(21 July 2017 – Hong Kong) Nan Hai Corporation Limited (“Nan Hai Corporation” or the “Company”; stock code on Hong Kong Stock Exchange: 00680.HK) is pleased to announce that, on 21 July 2017 the Company successfully issued offshore USD-denominated notes to professional investors to raise USD400 million. The maturity was 3 years and the price was 99.909% of the principal amount of the notes at a coupon rate of 3.15%. The listing of the notes on the Stock Exchange is expected to become effective on 24 July 2017. 

The notes attracted several cornerstone investors before pricing, and were enthusiastically subscribed by 45 investors on the pricing day. 70% of them were from the banks, 23% from fund management companies, 4% from insurance companies and 3% from private banks. The final firm orders exceeded USD1.0 billion. The notes were successfully issued with an interest rate significantly lower than the industry average.

The notes will only be offered and sold outside the United States in accordance with Regulation S under the Securities Act. With full trust on its financial resources, China CITIC Bank (Shenzhen) issued a standby letter of credit for the Company. Nan Hai Corporation appointed China CITIC Bank International Limited as the Sole Global Coordinator, and Agricultural Bank of China Limited Singapore branch, BOCI Asia Limited and Wing Lung Bank Limited as the Joint Lead Manager.

It is the second time that Nan Hai Corporation successfully issued notes with the same credit structure, following the issuance of USD500 million 3-year offshore notes on 25 May 2017. The successful issuance of the USD-denominated notes will expand the Company’s financing sources, optimize the financing structure, further lower the capital cost and enhance the Company’s capital operating capacity in the capital market, so as to support the company’s future growth and lay a solid foundation for the development in three fields of culture and media services, property development and corporate IT application services as well as the content industry’s comprehensive development. It will also play a positive role in the Company’s future business development in the global market.