china overseas development signs hk$18 billion club loan | 中國海外集團-必一运动官网

(hong kong, december 1, 2017) china overseas development co., ltd. ("the company"; stock code: 0688.hk) is pleased to announce that it has signed a five-year period of hk$18 billion with a club composed of 15 well-known domestic and foreign banks. the term loan has become the largest bank financing in the company's history and the largest number of participating banks. the annual interest rate of the loan is hibor 1.38%, and the cost is reasonable. it is mainly used for the company's new and existing real estate projects, refinancing the company's existing debt, and other general corporate purposes.

the syndicated loan response was overwhelming, with 15 chinese and foreign banks participating, including: bank of china (hong kong), hsbc, sumitomo mitsui banking corporation, industrial and commercial bank of china (asia), agricultural bank of china hong kong branch, bank of communications hong kong branch, china construction bank (asia), dbs bank hong kong branch, bank of east asia, china development bank hong kong branch, hang seng bank, united overseas bank, nanyang commercial bank, ocbc bank, and ocbc wing hang bank. (the ranking is sorted by the final share)

2017 coincides with the 38th anniversary of the founding of china overseas development, the 25th anniversary of the listing, and the 10th anniversary of becoming a blue chip component of the hang seng index. the company's market value has increased from hk$4.2 billion at the beginning of its listing in 1992, an increase of nearly 64 times to today's market value exceeding 270 billion hong kong dollars, with a cumulative dividend of more than 41.8 billion hong kong dollars; the company’s operating performance is calmly leading in the industry: after-tax net profit increased from 4.22 billion hong kong dollars in 2007 to 38.39 billion hong kong dollars in 2016, maintaining a high-speed double-entry annual average of 27.8% increase.

while continuing to create value for shareholders, china overseas development also attaches great importance to the interests of creditors. the company always adheres to a prudent financial policy, strengthens cash flow management, and maintains a reasonable level of borrowing. in 2017, the three major international credit rating agencies rated the company’s credit ratings as: moody’s baa1, standard & poor’s bbb , and fitch a-. they have given the company the highest investment rating on the company’s domestic property stocks for many years, reflecting the capital market’s assessment of the company’s financial soundness and stability. the greatest recognition of debt solvency.

looking forward to the future, the company will firmly adhere to the brand concept of "integrity, excellence, and eternal quality", shoulder the corporate mission of "expand the happiness space and create infinite value", and deeply root the core value of "being true to the right path, innovation and far-reaching". in the company’s genes, adhering to the corporate spirit of “integrity, innovation, pragmatism, and refinement”, it adheres to the path of sustainable development, and strives to achieve a comprehensive “sustainable value-added, harmonious co-existence” of the company, shareholders, employees, business partners, and society. "win" and grow from an excellent developer to an "excellent international real estate development group."

china overseas development signed a hk$18 billion club loan for the largest bank financing in its history. mr. yan jianguo, chairman and chief executive officer of china overseas development co., ltd. is located in the middle of the front row.