BEIJING, March 28, 2019
/PRNewswire/ -- Hexindai Inc. (NASDAQ: HX) ("Hexindai" or the
"Company"), a fast-growing online consumer lending marketplace in
China, today announced the
issuance of a Senior Unsecured Note (the "Note") to Majik Fund SPC,
an exempted company managed by a subsidiary of Yunfeng Financial
Group Limited ("Yunfeng Financial Group") (HKSE 376), an innovative
financial technology group, providing comprehensive investing and
financing services for individual and institutional investors and
enterprise
customers.
Hexindai issued Majik Fund SPC a
US$20 million three-year Senior
Unsecured Note due 2022. The Note bears a fixed interest rate of
12.0% per annum, with interest payable semi-annually in
arrears.
Mr. Xinming Zhou, Chief Executive
Officer of Hexindai, commented, "I'm pleased to issue this Note to Majik
Fund SPC which I believe demonstrates their confidence in the
future prospects of our business and the industry. With our
business gradually improving despite a difficult market
environment, we will use the proceeds as working capital to
continue growing our platform and
diversify our revenue streams to drive future growth and strengthen our position in the
industry."
About Yunfeng Financial Group
Yunfeng Financial Group is an international financial
institution that combines traditional financial services with the
latest science and technology. It is licensed to carry out type 1
(dealing in securities), type 4 (advising on securities), type 6
(advising on corporate finance) and type 9 (asset management)
regulated activities under the Securities and Futures Ordinance in
Hong Kong. Combining finance and
technology, Yunfeng Financial Group provides one-stop financial
services including brokerage, investment research, corporate
finance, asset management, insurance, employee stock ownership plan
administration services and fintech solution.
About Hexindai Inc.
Hexindai Inc. (NASDAQ: HX) ("Hexindai" or the "Company") is a
fast-growing online consumer lending marketplace based in
Beijing, China facilitating loans
to meet the increasing consumption demand of the emerging middle
class in China. Hexindai provides
borrowers with convenient and ready access to credit through its
marketplace. The Company offers borrowers a wide range of products
designed based on customer segmentation data and tailored to the
specific needs of the emerging middle class in China by matching them with investors seeking
various types of investment products with appropriate risk levels
and risk-adjusted returns. Hexindai's strong user acquisition
capabilities combined with an online platform with extensive
offline networks, an advanced risk management system, and strong
strategic cooperative relationships with a custodian bank and an
insurance company to safeguard investments, allows the Company to
generate higher customer satisfaction, reliance, and realize faster
growth in China.
Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements are made under the "safe
harbor" provisions of the U.S. Private Securities Litigation Reform
Act of 1995. These statements can be identified by terminology such
as "will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "potential," "continue," "ongoing,"
"targets," "guidance" and similar statements. The Company may also
make written or oral forward-looking statements in its periodic
reports to the U.S. Securities and Exchange Commission (the "SEC"),
in its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Any statements that are
not historical facts, including statements about the Company's
beliefs and expectations, are forward-looking statements that
involve factors, risks and uncertainties that could cause actual
results to differ materially from those in the forward-looking
statements. Such factors and risks include, but not limited to the
following: the Company's goals and strategies; its future business
development, financial condition and results of operations; the
expected growth of the credit industry, and marketplace lending in
particular, in China; the demand
for and market acceptance of its marketplace's products and
services; its ability to attract and retain borrowers and investors
on its marketplace; its relationships with its strategic
cooperation partners; competition in its industry; and relevant
government policies and regulations relating to the corporate
structure, business and industry. Further information regarding
these and other risks, uncertainties or factors is included in the
Company's filings with the SEC. All information provided in this
announcement is current as of the date of this announcement, and
the Company does not undertake any obligation to update such
information, except as required under applicable law.
For more information, please visit
ir.hexindai.com
For investor inquiries, please contact:
Hexindai
Ms. Daisy Wang
Tel: +86-10-5380-6196
Email: ir@hexindai.com
Christensen
In China
Mr. Christian Arnell
Phone: +86-10- 5900-1548
E-mail: carnell@christensenir.com
In US
Mr. Tip Fleming
Phone: +1-917-412-3333
Email: tfleming@Christensenir.com
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SOURCE Hexindai Inc.