Guarantor |
Haier Smart Home Co., Ltd. |
Issuer |
Harvest International Company, a company incorporated in Cayman Islands and a subsidiary of Haier Smart Home |
Convertible property |
Convertible into H Shares of Haier Smart Home listed on The Stock Exchange of Hong Kong Limited (“HKSE”) with the ticker 6690.HK |
Guarantee |
The Bonds will be unconditionally and irrevocably guaranteed by the Guarantor |
Currency |
Hong Kong Dollars (“HKD”) |
Denomination |
HK$2,000,000 per Bond and integral multiples of HK$1,000,000 in excess thereof |
Maturity Date |
21 November 2022 |
Deal Size |
HK$8,000 million (approximately US$1,025 million equivalent) |
Coupon |
0.00% |
Yield to Maturity |
1.00% per annum, calculated on a semi-annual basis |
Redemption Price at Maturity |
105.12% of the principal amount |
Current Conversion Price |
HK$19.59 per H Share |
Current Conversion Ratio |
63,788 H Shares per HK$2,000,000 principal amount of the Bond at the Current Conversion Price |
Conversion Rights |
Bondholders may convert their Bond into H Shares at any time during the Conversion Period at the Conversion Price then in effect |
Conversion Period |
Convertible at any time from the Amendment Date until 10 days prior to the Maturity Date, unless previously redeemed, converted, or repurchased and cancelled |
Early Redemption Amount |
Amount representing a gross yield of 1.00% per annum, calculated on a semi-annual basis up to the Redemption Date |
Issuer Call |
At any time on or after 21 November 2020, the Issuer may redeem the Bonds in whole but not in part, at their Early Redemption Amount if the closing price of the H Shares on each of not less than 20 HKSE Trading Days in any period of 30 consecutive HKSE Trading Days ending not earlier than the fifth day prior to the date on which the relevant notice of redemption is given by the Issuer to the Bondholders, is at least 130% of the Early Redemption Amount divided by the then prevailing Conversion Ratio |
De-listing / Suspension of Trading Put |
Yes, Bondholders have the right to require redemption of their Bonds, in whole or in part, at their Early Redemption Amount if the H Shares are de-listed or are suspended from trading for a period equal to or exceeding 30 consecutive HKSE Trading Days |
Settlement |
Euroclear and Clearstream |
Sole Global Coordinator and Sole Bookrunner and Consent Solicitation Agent |
J.P. Morgan |