SHANGHAI, Aug. 3, 2017 /PRNewswire/ -- eHi Car Services
Limited ("eHi" or the "Company") (NYSE: EHIC), a leading car
rentals and car services provider in China, today announced the pricing of
US$400 million aggregate principal
amount of its senior unsecured notes due August 2022 (the "Notes"). The Notes will bear a
fixed interest rate of 5.875% per annum, with interest payable
semi-annually in arrears. The Notes were issued with a yield of
5.875%, and will mature on August 14,
2022.
The Company intends to use the net proceeds of this offering to
repay all outstanding borrowings under, and terminate, the
US$150 million syndicated bank
facility it entered into in August
2016, and for other general corporate purposes, including
capital expenditures, refinancing outstanding indebtedness and
enhancing its capital structure.
Approval in-principle has been received for the listing and
quotation of the Notes on the Singapore Exchange Securities Trading
Limited.
The Company expects to close the Notes offering on or about
August 14, 2017, subject to the
satisfaction of customary closing conditions.
The Notes have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "Securities
Act"), and may not be offered or sold within the United States, except pursuant to an
exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act. Accordingly, the
Notes were offered and sold only outside the United States in compliance with
Regulation S under the Securities Act.
This press release shall not constitute an offer to sell or a
solicitation of an offer to purchase any of the Notes, and shall
not constitute an offer, solicitation or sale of the Notes in any
state or jurisdiction in which such an offer, solicitation or sale
would be unlawful.
This press release contains information about the pending
offering of the Notes, and there can be no assurance that the
offering will be completed.
About eHi Car Services Limited
eHi Car Services Limited (NYSE: EHIC) is one of the leading car
rental and car services providers in China. The Company's mission is to provide
comprehensive mobility solutions as an alternative to car ownership
by best utilizing existing resources and sharing economy to create
optimal value. eHi distinguishes itself in China's fast-growing car rental and car
services market through its complementary business model,
customer-centric corporate culture, broad geographic coverage,
efficient fleet management, leading brand name, and commitment to
technological innovation. eHi is the exclusive strategic partner in
China of Enterprise, the largest
car rental company in the world, and is the designated and
preferred business partner of Ctrip, a leader in the online travel
agency industry in China. For more
information regarding eHi, please visit http://en.1hai.cn.
Safe Harbor Statement
This press release contains certain "forward-looking
statements" within the meaning of federal securities laws. All
statements, other than statements of historical facts, included
herein are "forward-looking statements" including, among other
things, the expected use of net proceeds received from issuance of
the Notes, and the Company's ability to complete the offering. The
expectations reflected in these forward-looking statements involve
significant assumptions, risks and uncertainties, and these
expectations may prove to be incorrect. Investors should not place
undue reliance on these forward-looking statements, which speak
only as of the date of this press release. The Company's actual
results could differ materially from those anticipated in these
forward-looking statements. Other than as required under the
securities laws, the Company does not assume a duty to update these
forward-looking statements.
For investor and media inquiries, please contact:
eHi Car Services Limited
Tel: +86 (21) 6468-7000 ext. 8742
E-Mail: ir@ehic.com.cn
The Piacente Group, Inc.
Ms. Brandi Piacente
Tel: +1-212-481-2050
E-Mail: ehi@thepiacentegroup.com
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SOURCE eHi Car Services Limited