Investor Presentaiton
* Refinancing Plan
As of 30 Jun 2015
(RMB billion)
Total Debt
14.26
Short-term loans:
Subsidiary level
1.50
loans
Long-term loans
2.35
Refinancing Plan
ENN 新奥
.
.
•
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We have RMB6.33 billion cash on hand, which is enough to refinance the short-term
loans
5-year medium term notes which will be expired in 2017 at 5.55% per annum
7-year corporate bond which will be expired in 2018, at 6.45% per annum
15-year loan from China Development Bank which will be expired in 2020, at PBOC
rate
7-year long term loans from IFC which will be expired in 2020 at LIBOR + 2.75% per
annum
Due in 2019, fixed coupon 3.25%
Due in 2021, fixed coupon 6.0%
•
Due in 2018, zero coupon
.
Bondholders can convert their bonds into new shares anytime until 16 Feb 2018,
conversion price is HK$48.62/share
Assuming full conversion, approximately 80 million shares will be issued,
representing around 6.9% of the enlarged issued share capital
5-year bonds
2.42
•
10-year bonds
4.52
Convertible bonds
3.47
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