GUANGZHOU, China, March
7, 2017 /PRNewswire/ -- Vipshop
Holdings Limited (NYSE: VIPS), a leading online discount retailer
for brands in China ("Vipshop" or
the "Company"), today announced that it has entered into a facility
agreement dated March 7, 2017, with
Credit Suisse AG, Singapore
Branch, Morgan Stanley Senior Funding, Inc. and other parties
thereto (the "Facility Agreement"). The term loan facility (the
"Facility") pursuant to the Facility Agreement may only be used in
connection with a repurchase by the Company of its 1.50%
Convertible Senior Notes due 2019 (the "Notes") on March 15, 2017 (including the fees, costs and
expenses incurred in connection with the Facility itself). The
maximum amount of the financing available to the Company from the
Facility is the lesser of the actual amount of the repurchase price
for the Notes plus those fees, costs and expenses or US$632,500,000, and the minimum amount that the
Company may utilize is US$5,000,000.
The Company's obligations under the Facility Agreement are
guaranteed by Vipshop International Holdings Limited, a subsidiary
of the Company.
About Vipshop Holdings Limited
Vipshop Holdings Limited is a leading online discount retailer
for brands in China. Vipshop
offers high quality and popular branded products to consumers
throughout China at a significant
discount to retail prices. Since it was founded in August 2008, the Company has rapidly built a
sizeable and growing base of customers and brand partners. For more
information, please visit www.vip.com.
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SOURCE Vipshop Holdings Limited