Pacific Alliance China Land Limited Foreign Exchange Hedging (7262I)
December 10 2015 - 12:16PM
UK Regulatory
TIDMPACL
RNS Number : 7262I
Pacific Alliance China Land Limited
10 December 2015
10 December 2015
Pacific Alliance China Land Limited
Foreign Exchange Hedging
Pacific Alliance China Land Limited ("PACL") (AIM: PACL), the
closed-end investment company admitted to trading on AIM, announces
that it completed a foreign exchange hedge for its portfolio on 7
December 2015 given the potential greater fluctuation in the CNY
exchange rate as a result of its inclusion in the SDR basket.
The following hedges cover the proceeds of the Project Malls
exit and the value of the Project Auspice investment, which are
denominated in CNY and will eventually be repatriated to PACL
through dividend distributions and return of share capital from its
PRC subsidiaries.
Buy 30 Jun 16 6.50/6.75 call spread in US$40.0 million per leg
Buy 30 Dec16 6.55/7.00 call spread in US$15.6 million per leg
Buy 31 Dec18 6.75/7.20 call spread in US$70.0 million per leg
For further information please contact:
MANAGER: LEGAL COUNSEL:
Patrick Boot, Managing Partner Jon Lewis, General Counsel
Pacific Alliance Real Estate PAG
Limited 15/F, AIA Central
15/F, AIA Central 1 Connaught Road
1 Connaught Road Central, Hong Kong
Central, Hong Kong T: (852) 2918 0088
T: (852) 2918 0088 F: (852) 2918 0881
F: (852) 2918 0881 jlewis@pagasia.com
pboot@pagasia.com
-------------------------------- ----------------------------
NOMINATED ADVISER:
Philip Secrett
Grant Thornton UK LLP
T: (44) 20 7383 5100
Philip.J.Secrett@uk.gt.com
-------------------------------- ----------------------------
About Pacific Alliance China Land Limited
Pacific Alliance China Land Limited ("PACL") (AIM: PACL) is a
closed-end investment company admitted to trading on the AIM Market
of the London Stock Exchange in November 2007. PACL is focused on
investing in a portfolio of existing properties, new developments,
distressed projects and real estate companies in Greater China.
For more information about PACL, please visit:
www.pacl-fund.com
Pacific Alliance China Land Limited is managed by a member of
PAG (formerly known as Pacific Alliance Group), the Asian
alternative investment fund management group. Founded in 2002, PAG
is now one of the region's largest Asia-focused alternative
investment managers, with funds under management across Private
Equity, Real Estate and Absolute Return strategies. PAG has a
presence across Asia with over 350 staff working in the region.
For more information about PAG, please visit:
www.pagasia.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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