SHANGHAI, March 11 /PRNewswire-Asia-FirstCall/ -- Xinhua Finance Limited (the "Company") announced today that it has successfully completed its tender offer (the "Tender Offer") for a portion of its outstanding 10% Senior Guaranteed Notes due 2011 (the "Notes"), which expired on March 6, 2009, at 3:00 p.m., London time (the "Expiration Date"). The Tender Offer was made pursuant to a tender offer statement dated February 6, 2009 (the "Tender Offer Statement"). As of the Expiration Date, US$48,549,000 principal amount of the Notes were tendered, representing approximately 94.71% of the aggregate principal amount of the Notes then outstanding.
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Pursuant to the terms of the Tender Offer Statement, the Company has accepted the Notes validly tendered for payment on a pro rata basis since the aggregate principal amount of the Notes validly tendered exceeded US$41,701,000. The pro rata allocation has been calculated by multiplying the principal amount of the Notes validly tendered by a holder of Notes (a "Holder") via a tender instruction by a factor equal to the aggregate principal amount of the Notes that the Company was to purchase divided by the aggregate principal amount of the Notes validly tendered and not validly withdrawn. Any tendered Notes not purchased due to proration will be returned to the Holders thereof as promptly as practicable after March 11, 2009 (the "Payment Date").
Holders of the Notes whose Notes were accepted for purchase will receive 100% of the principal amount of the tendered Notes (the "Purchase Price"), plus accrued and unpaid interest thereon from the most recent payment of interest preceding the Payment Date, up to, but not including the Payment Date (the "Accrued Interest"), as adjusted on a pro rata basis. All payments will be made as provided in the Tender Offer Statement and the terms of the Notes. On the Payment Date, the Company will pay US$40,132,925 in the aggregate to purchase the Notes, which amount includes the aggregate Purchase Price of US$38,943,000 and Accrued Interest thereon.
For further information and for copies of the Tender Offer Statement please contact: The Bank of New York Mellon at One Canada Square, London E14 5AL, United Kingdom, Attention: Corporate Trust Services, email: eventsadmin@bnymellon.com, samuel.teh@bnymellon.com, jack.suk@bnymellon.com, Tel: (44) 207 964 4958, (65) 6432 0340, (65) 6432 0356, in its capacity as Information Agent and Tender Agent.
This press release does not constitute an offer to buy or solicitation of an offer to sell, nor shall there be any purchase or sale of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Notes to Editors:
About Xinhua Finance Limited
Xinhua Finance Limited is China's premier financial information service provider and is listed on the Mothers Board of the Tokyo Stock Exchange (symbol: 9399) (OTC ADRs: XHFNY). Bridging China's financial markets and the world, the Company's proprietary content platform, comprising Indices, Ratings and Solutions, serves financial institutions and corporations worldwide. Founded in November 1999, the Company is headquartered in Shanghai. For more information, please visit http://www.xinhuafinance.com .
This press release is not for transmission or distribution, directly or indirectly, in or into the United States (including its territories and possessions, any State of the United States and the District of Columbia). This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. No securities of the Company may be offered or sold in the United States, except pursuant to an exemption from the registration requirements of the US Securities Act of 1933, as amended. The Company does not intend to conduct a public offering of securities in the United States.
This press release contains some forward-looking statements that involve a number of risks and uncertainties. A number of factors could cause actual results, performance, achievements of the Company or industries in which it operates to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements.
More Information:
IR Contact:
Mr. Charles Lau
Tel: +852-3196-3779
Email: charles.lau@xinhuafinance.com
