09/19/2023 | Press release | Distributed by Public on 09/19/2023 03:22
Hong Kong, 19 September 2023 - China Aircraft Leasing Group Holdings Limited ("CALC" or the "Company", together with its subsidiaries, the "Group"; HKEX stock code: 01848.hk) announced the details of repurchases the full valid principal for two outstanding USD bonds due in 2024: In view of the Company's sufficient liquidity and confidence in its long-term stable operation in the future, the Group will accept all valid principal amount of tender offer for cash repurchase, i.e., the final total principal amount accepted shall be US$51.12 million, of which US$200 million Guaranteed Bonds (stock code: 05391.hk) due March 2024 with a coupon of 5.5% was US$50.72 million and US$100 million Guaranteed Bonds (stock code: 40972.hk) due December 2024 with a coupon rate of 4.85% was US$0.4 million.
The above repurchase is one of the significant initiatives taken by CALC to reduce its short-term liabilities, optimize its debt structure, control its interest expenses and gain upward international credit ratings.
Mr. Conrad Li, Chief Financial Officer of CALC, remarked, "To improve the international credit ratings is the development direction of the company at this stage. We have strong confidence and determination in achieving sustainable business profitability in accordance with plans and measures, aiming at enhancing investors' long-term expectations for the company. By making more efforts and advance simultaneously, we aim to further improve our operational and financial robustness through so as to improve medium and long-term competitiveness of CALC."