SouFun announced the expiry of the $350 million convertible premium bond pricing

Source: Internet
Author: User
Keywords December SouFun pricing
Tags closing closing price convertible press release

SouFun (Nyse:sfun) today announced the pricing of a $350 million convertible premium bond that expires in 2018, which can be exchanged for 9.6839 ads per 1000-dollar bond principal, a premium of 40% over the December 4 closing price.

The bond is issued to qualified institutional investors, as well as specific non-US citizens, in accordance with the rule 144A of the U.S. Securities Act of 1933.

SouFun has given the Bond's original buyer a 30-day option to buy up to 50 million dollars in bonds. The bond could be converted into a house-searching US Depository (ADS), which can be exchanged for 9.6839 ads per 1000 dollar of the principal amount, a premium of 40% for the closing price of December 4. The exchange rate may be adjusted for certain events.

At the end of the second business day before the maturity of the bond, the holder of the bond may be convertible at any time as an integral number of the principal of the 1000-dollar bond. In addition to the specific circumstances relating to changes in tax laws in the area of tax jurisdiction, the houses are not entitled to redeem the bonds until maturity. The bondholders have the right to require the house to repurchase all or part of its bonds on December 15, 2016.

The bond's annual interest rate is 2%, starting from June 15, 2014, paying two times a year, starting with June 1 and December 1. The bond will expire on December 15, 2018, unless it has been bought or redeemed in advance.

House search said the bond issuance proceeds will be used for general purposes, such as new products and services, operating capital, capital expenditure, business development and potential mergers and acquisitions.

House search is expected, the bond issue will be completed around December 10, 2013. The bond is not registered under U.S. securities laws or state securities laws and may not be available for sale in the United States or for U.S. citizens, except for qualified institutional investors who have obtained a registered exemption under the rule 144A or other provisions of the United States Securities Act.

This press release does not constitute an offer to sell or to purchase any securities, and does not constitute the issue, invitation or sale of bonds. The distribution of ads or common shares in any state or jurisdiction is illegal.

This press release contains some information on the ongoing issue of the bond and does not guarantee that the bond issue will be completed.

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