DGAP-Ad-hoc: Qingdao Haier Co.,Ltd. / Key word(s): Miscellaneous
Qingdao Haier Co.,Ltd.: Qingdao Haier Co., Ltd. Announces Convertible Bonds
Offering
13-Dec-2018 / 13:54 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR
INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER
JURISDICTION IN WHICH SUCH PUBLICATION, DISTRIBUTION OR RELEASE WOULD BE
PROHIBITED BY APPLICABLE LAW
Qingdao Haier Co., Ltd. Announces Convertible Bonds Offering
Qingdao / Shanghai / Frankfurt, 13 Dec 2018 - Qingdao Haier Co., Ltd. (SHA:
600690/ISIN: CNE1000031C1/WKN: A2JM2W, "Qingdao Haier" or "the Company"),
announces today an offering (the "Offering") of RMB 3,007,490,000
convertible bonds (the "Bonds"). The Bonds will have a term of six years.
The net proceeds of the Offering will be used to upgrade the intelligent
manufacturing in the product line refrigeration and air conditioning, to
increase the productivity for intelligent kitchen appliances, to expand the
manufacturing base in overseas emerging markets and to enhance the
innovation ability. The Bonds will be offered in a public offering in China,
including to holders of A-Shares, which will receive preferential
allocations. The Bonds are not offered in Germany.
The Bonds will be issued at par in denominations of RMB 100 and are expected
to carry a coupon between 0.2% and 2% per annum, payable annually. The Bonds
can be converted, initially, into up to 206,700,343 Haier ordinary shares
listed on Shanghai Stock Exchange ("A-Shares"). A conversion into D-Shares
is not possible. The initial conversion price is RMB 14.55; it is subject to
certain adjustments in the event, _inter alia_, of capital measures and
similar corporate actions. Bonds holders are entitled to convert the bonds
to Haier shares at any time starting with the first trading day which is six
months after the issuance of the Bonds, until 17 December 2024.
Within 5 trading days after the expiration of the Bonds, the Company will
redeem the unconverted Bonds at the price of 105% of the par value of the
bonds (which redemption price shall include the interest payment for the
last interest period). Upon exercise of their conversion rights, Bonds
holders will receive such number of Haier shares, as determined by the then
prevailing conversion price.
The Company will have the option to redeem all or some of the outstanding
Bonds at their principal amount plus accrued interest, (i) if the closing
price of Haier shares for at least 15 trading days in any 30 successive
trading days exceeds 120% (incl. 120%) of the then prevailing conversion
price, or (ii) if the amount of the outstanding Bonds are less than RMB
30,000,000.
The Bonds holders will have a right to sell all (but not only some of) the
Bonds held by them at their nominal amount plus accrued interest, if the
actual use of the proceeds is materially different from the commitment made
in the convertible bonds prospectus and such change is deemed as a change of
the use of the proceeds by China Securities Regulatory Commission. Such call
option can only be exercised in the specific period of time announced by the
Company following the determination by the CSRC. In the last two
interest-bearing years of the Bonds, if the closing price of the Company's
A-shares is less than 70% of the then current conversion price in any 30
consecutive trading days, Bonds holder has the right to wholly or partly
sell the Bonds back to the Company at the price of par value plus current
accrued interest.
Application is expected to be made for the Bonds to be admitted for trading
on the Shanghai Stock Exchange and further details thereof will be disclosed
separately once determined.
For a more detailed description of the main terms of the Bonds, please see
the Announcement in relation to the Public Offering in China of Corporate
Convertible Bonds due 2024.
http://www.haier.net/en/investor_relations/haier/gsgg/ [1]
China International Capital Corporation and Goldman Sachs Gao Hua Securities
Company limited are acting as Co-Lead Manager on the Offering.
IR Contact:
Yao Sun (Sophie)
Qingdao Haier Germany
T: +49 6172 9454 143
F: +49 6172 9454 42143
M: +49 160 9469 3601
Email: y.sun@haier.de
13-Dec-2018 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: Qingdao Haier Co.,Ltd.
Haier Industrial Park, Laoshan District
266101 Qingdao
China
Phone: +86 532 8893 1670
E-mail: finance@haier.com
Internet: www.haier.net
ISIN: CNE1000031C1
WKN: A2JM2W, 690D
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart, Tradegate Exchange
End of Announcement DGAP News Service
757853 13-Dec-2018 CET/CEST
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=b01bfa166aae0d569a7ac46e35fd64b3&application_id=757853&site_id=vwd&application_name=news
(END) Dow Jones Newswires
December 13, 2018 07:54 ET (12:54 GMT)
