BEIJING, Oct. 19, 2016 /PRNewswire/ -- Xinyuan Real
Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), an
NYSE-listed real estate developer and property manager primarily in
China and recently in other
countries, today announced that the Company has redeemed an
aggregate principal amount of US$183,000,000 of all outstanding 13.25% Senior
Notes due 2018 (the "2018 Notes") on the Redemption Date (the
"Redemption") of October 18, 2016 at
the redemption price equal to 106.625% of the principal amount
thereof, being US$195,123,750, plus
accrued and unpaid interest of US$11,113,590 to the Redemption Date. The total
redemption price paid by the Company on the Redemption Date is
US$206,237,340.
Xinyuan funded the redemption using the proceeds from the
offering of its 8.125% Senior Notes due 2019 issued on August 30, 2016.
Mr. Yong Zhang, Chairman of
Xinyuan, commented, "We are pleased to complete the early
redemption of the 2018 Notes. This transaction represents a
meaningful improvement to our balance sheet, extends the maturity
of the Company's long-term debt and lowers our financing costs. The
refinancing allows Xinyuan greater flexibility to continue
executing on its real estate development projects and creates
additional value for shareholders."
About Xinyuan Real Estate Co., Ltd.
Xinyuan Real Estate Co., Ltd. ("Xinyuan") is an NYSE-listed real
estate developer and property manager primarily in China and recently in other countries. In
China, the Company develops and
manages large scale, high quality real estate projects in over ten
tier one and tier two cities, including Beijing, Shanghai, Zhengzhou, Jinan, Xi'an,
Suzhou, among others. Xinyuan was one of the first Chinese real
estate developers to enter the U.S. market and over the past few
years has been active in real estate development in New York. The Company aims to provide
comfortable and convenient real estate related products and
services to middle-class consumers. For more information, please
visit http://www.xyre.com.
Safe Harbor Statement
Certain statements in this press release constitute
"forward-looking statements". These statements are made under the
"safe harbor" provisions of the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements includes
statements about estimated financial performance, sales performance
and activity, among others and can generally be identified by
terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates" and similar statements.
Statements that are not historical statements are forward-looking
statements. Forward-looking statements involve inherent risks and
uncertainties that could cause actual results to differ materially
from those projected or anticipated, including, but not limited to,
our ability to continue to implement our business model
successfully; our ability to secure adequate financing for our
project development; our ability to successfully sell or complete
our property projects under construction and planning; our ability
to enter into new geographic markets and expand our operations into
new operational areas/activities; the marketing and sales ability
of our third-party sales agents; the performance of our third-party
contractors; the impact of laws, regulations and policies relating
to real estate developers and the real estate industry in the
countries in which we operate; our ability to obtain permits and
licenses to carry on our business in compliance with applicable
laws and regulations; competition from other real estate
developers; the growth of the real estate industry in the markets
in which we operate; fluctuations in general economic and business
conditions in the markets in which we operate; and other risks
outlined in our public filings with the Securities and Exchange
Commission, including our annual report on Form 20-F for the year
ended December 31, 2015. Except as
required by law, we undertake no obligation to update or review
publicly any forward-looking statements, whether as a result of new
information, future events or otherwise, after the date on which
the statement is made.
For more information, please contact:
In China:
Xinyuan
Real Estate Co., Ltd.
Ms. May Shen
Investor Relations Director
Tel: +86 (10) 8588-9376
Email: irteam@xyre.com
ICR, LLC
Investors:
William Zima
In U.S.: +1-646-308-1472
In China: +86 (10) 6583 7511
Email: William.zima@icrinc.com
Media:
Edmond Lococo
In China: +86 (10) 6583-7510
Email: Edmond.Lococo@icrinc.com
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SOURCE Xinyuan Real Estate Co., Ltd.