This transaction follows the successful restructuring of Shuifa Singyes in Dec 2019
On 17 June 2020, China Shuifa Singyes Energy Holdings Limited (750.HK) successfully completed its cash tender offer of the outstanding 2.00% cash-pay and 4.00% pay-in-kind guaranteed senior notes due 2022. Admiralty Harbour acted as the Sole Dealer Manager for the transaction.
Amid macro uncertainties and a highly volatile debt capital market, a total principal amount of US$90,788,559 tendered for the Offer and was accepted, which was 29.7% more than the initially set maximum acceptance amount of US$70m. This demonstrated accurate market timing and well-tailored Offer terms, and more importantly, Shuifa Group’s unwavering commitment to Shuifa Singyes.
This transaction follows the successful restructuring of Shuifa Singyes in Dec 2019. It created a win-win outcome for noteholders to exit and achieve liquidity, and for the Company to optimize its balance sheet and realize gains. We thank the Company for its continued trust, and noteholders who have been supporting the Company and Admiralty Harbour along the way.
About Shuifa Singyes Energy
China Shuifa Singyes Energy Holdings Limited ("Shuifa Singyes Energy", the "Company") is a professional renewable energy solution provider and building contractor. Its main businesses are design, fabrication and installation of curtain wall, green building and solar projects. In December 2019, the former of the Company, China Singyes Solar Technologies Holdings Ltd, successfully completed its restructuring of offshore debt, as well as a controlling stake subscription by Shuifa Group, a state-owned conglomerate wholly-owned by the Shandong SASAC.