Shanghai, China, June 10 /Xinhua-PRNewswire-FirstCall/ -- Xinhua Finance (TSE: 9399, OTC: XHFNY), a China-based financial information and media services provider, announced today that the holders representing more than a majority in aggregate principal amount of its outstanding US$100,000,000 10% Senior Guaranteed Notes due 2011, ISIN: XS0275685641 and Common Code: 027568564 (the "Senior Notes") consented to the proposed amendment to the indenture pursuant to which the Senior Notes were issued (the "Indenture") and as proposed in the consent solicitation statement that was sent to the holders of the Senior Notes (the "Noteholders") on May 26, 2008 (the "Consent Solicitation Statement").
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Xinhua Finance wishes to thank the Noteholders for their support.
In connection with the consent solicitation (the "Consent Solicitation"), Xinhua Finance had announced on May 26, 2008 that, subject to the delivery, on or before June 9, 2008, of the consents required for implementing its proposed amendment to the Indenture (the "Proposed Amendment"), Xinhua Finance would agree to set aside 50% of the proceeds from the sale of capital stock, up to and including proceeds in an aggregate amount of US$50 million, of any of Mergent, Inc., Stone & McCarthy Research Associates, Inc., Market News International, Inc., G-7 Group, Inc., Washington Analysis Corporation and Taylor Rafferty Associates, Inc., to make an offer to purchase Senior Notes at par, plus accrued interest, within 45 days from receipt of any such proceeds, with the remaining 50% of such proceeds to be applied in accordance with the Indenture. Xinhua Finance announced today that it will allocate up to the first US$25 million of proceeds from the aforementioned sale of stock, if any, to the Noteholders to make an offer to purchase Senior Notes, with the balance of up to and including US$50 million, if any, being applied in accordance with the Indenture. The supplemental indenture implementing the Proposed Amendment will be amended accordingly to reflect these changes.
The complete terms and conditions of the Consent Solicitation are set forth in the Consent Solicitation Statement that was sent to the Noteholders.
Notes to Editors
About Xinhua Finance Limited
Xinhua Finance Limited ("XFL") is China's premier financial information and media 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, Xinhua Finance's proprietary content platform, comprising Indices, Ratings, Financial News, and Investor Relations, serves financial institutions, corporations and re-distributors worldwide. Through its subsidiary Xinhua Finance Media Limited (NASDAQ: XFML), XFL leverages its content across multiple distribution channels in China including television, radio, newspaper, magazine and outdoor media. Founded in November 1999, XFL is headquartered in Shanghai, with offices and news bureaus spanning 12 countries worldwide. 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 Xinhua Finance 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. Xinhua Finance does not intend to conduct a public offering of securities in the United States.
More Information:
Media Contact:
Ms. Joy Tsang
Tel: +86-21-6113-5999
Mobile: +86-136-2179-1577
Email: joy.tsang@xinhuafinance.com
IR Contact:
Ms Jennifer Chan Lyman
Tel: +8621-6113-5960
Email: Jennifer.chan@xinhuafinance.com
