Xinyuan Real Estate Announces Payment of 8.875% Senior Notes Due November 22, 2020
Xinyuan Real Estate Co., Ltd. (NYSE: XIN) announced the full payment of its 8.875% Senior Notes, amounting to US$253.5 million, on November 22, 2020. This payment included both principal and accrued interest, ensuring that the notes ceased to be outstanding after the maturity date. Chairman Yong Zhang emphasized the company's improved cash position and liquidity, reiterating a commitment to optimizing its debt structure and meeting all financial obligations timely and fully.
- Full payment of 8.875% Senior Notes of US$253.5 million has been completed, enhancing investor confidence.
- Improved cash position and liquidity signal stronger financial health for future operations.
- None.
BEIJING, Nov. 23, 2020 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), an NYSE-listed real estate developer and property manager, today announced that it has paid in full upon maturity its issued and outstanding
The Company paid in full the principal amount plus accrued and unpaid interest. From and after the Maturity Date, the Notes will cease to be outstanding.
Holders of the Notes should contact the bank or broker through which they hold a beneficial interest in the Notes for information about obtaining their payment.
Mr. Yong Zhang, Chairman of Xinyuan, stated, "With the recovery of our onshore and offshore business, Xinyuan's cash position and liquidity has notably improved. We remain committed to optimize our debt structure while maintain healthy growth. We want to reassure bondholders and investors that Xinyuan operates conservatively so that all financial obligations will be met on time and in full."
About Xinyuan Real Estate Co., Ltd.
Xinyuan Real Estate Co., Ltd. ("Xinyuan") is an NYSE-listed real estate developer and property manager primarily in China and recently in other countries. In China, Xinyuan develops and manages large scale, high quality real estate projects in over ten tier one and tier two cities, including Beijing, Shanghai, Tianjin, Zhengzhou, Jinan, Qingdao, Chengdu, Xi'an, Suzhou, Dalian, Zhuhai and Foshan. Xinyuan was one of the first Chinese real estate developers to enter the U.S. market and over the past few years has been active in real estate development in New York. Xinyuan aims to provide comfortable and convenient real estate related products and services to middle-class consumers. For more information, please visit http://www.xyre.com.
Forward Looking Statements
Certain statements in this press release constitute "forward-looking statements". These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements includes statements about intended securities repurchases, among others, and can generally be identified by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates" and similar statements. Statements that are not historical statements are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including, but not limited to, our ability to continue to implement our business model successfully; our ability to secure adequate financing for our project development; our ability to successfully sell or complete our property projects under construction and planning; our ability to enter successfully into new geographic markets and new business lines and expand our operations; the marketing and sales ability of our third-party sales agents; the performance of our third-party contractors; the impact of laws, regulations and policies relating to real estate developers and the real estate industry in the countries in which we operate; our ability to obtain permits and licenses to carry on our business in compliance with applicable laws and regulations; competition from other real estate developers; the growth of the real estate industry in the markets in which we operate; the impact of pandemics, such as Covid-19, on the real estate market and the economies in our markets； fluctuations in general economic and business conditions in the markets in which we operate; and other risks outlined in our public filings with the Securities and Exchange Commission, including our annual report on Form 20-F for the year ended December 31, 2019. Except as required by law, we undertake no obligation to update or review publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statement is made.
For more information, please contact:
In China:
Xinyuan Real Estate Co., Ltd.
Mr. Charles Wang
Investor Relations Director
Tel: +86 (10) 8588-9376
Email: irteam@xyre.com
The Blueshirt Group
Ms. Susie Wang
Mobile: +86 (138) 1081-7475
Email: susie@blueshirtgroup.com
In the United States:
The Blueshirt Group
Ms. Julia Qian
Email: Julia@blueshirtgroup.com
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SOURCE Xinyuan Real Estate Co., Ltd.
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