NWS Holdings Limited ("NWS Holdings) is pleased to announce that the Group and a subsidiary of the Group (the "Issuer") have entered into a subscription agreement with the Joint Lead Managers on 2 February 2012 (the "Subscription Agreement") in relation to an international offering of USD guaranteed bonds. The bonds will be issued in the aggregate principal amount of US$500 million at an offer price of 99.79%, bearing an interest rate of 6.5% per annum and maturing in 2017.
The net proceeds from the issue of the guaranteed bonds, which will be approximately US$494 million (equivalent to approximately HK$3,853 million), will be applied towards the general working capital of the Group and to refinance the banking facilities utilized to finance the acquisition of Hangzhou Ring Road.
The completion of the issuance of these guaranteed bonds is subject to terms and conditions set out in the Subscription Agreement. The bonds will be listed on the Main Board of the Singapore Exchange Securities Trading Limited.