Sinic Holdings Successfully Completes Issuance of US$250 million Bonds

HONG KONG,Oct. 14,2020 -- Sinic Holdings (Group) Company Limited(the "Company",stock code: 2103) is pleased to announce that the Company successfully completed issuance of US$250 million 364-Day Senior Notes ("The Notes") on October 12,with orders over US$1.5 billion,obtaining 6 times over-subscription. The coupon rate of the Notes was 9.50%,and the final pricing of the Notes was 40 basis points lower than the guidance of the initial price. The yield of the new Notes has decreased significantly compared to the previous same tenor notes,which proves the Company's improving investor recognition in the capital markets.

On 12 October,Sinic Holdings entered into the purchase agreement with Guotai Junan International,BOC International,UBS,Haitong International,Credit Suisse,CMB International,Barclays,BNP PARIBAS,CCB International,China CITIC Bank International,HSBC and Orient Securities (Hong Kong) in connection with the Notes. The Notes will mature in 2021 and will bear interest at a rate of 9.50% per annum,payable in arrears on 19 April 2021 and 18 October 2021.

The Company intends to use the net proceeds of the Notes issue to refinance certain existing indebtedness and for general working capital purposes. The Company may also adjust its plans in response to changing market conditions,and,thus,reallocate the use of the net proceeds.

Sinic Holdings has successfully attracted active subscription from investors in the market,receiving subscription of over 88 institutional investors from various countries and regions,including mainland China,Hong Kong,Europe and other countries,which fully demonstrated the recognition of investors in the market for the creditability and the management team of the Company.

The new 364-day senior notes was assigned rated B+ by the international credit rating agency Fitch and the Company was assigned global scale long-term issuer corporate credit ratings of "B+" (Outlook "stable"),"B"(Outlook "stable") and "B2" (Outlook "stable") byFitch,Standard& Poor's and Moody's respectively.

About Sinic Holdings (Group) Company Limited

Sinic Holdings (Group) Company Limited is a large-scale and comprehensive property developer in the PRC,focusing on the development of residential and commercial properties. Through nearly 10 years of operations,the Company has successfully established a leading position among residential property developers in Jiangxi Province and expanded its property development business into the Yangtze River Delta Region,the Greater Bay Region and the Central and Western China core cities and other regions with high-growth potential. According to the rankings of CRIC,China Index Academy and EH Consulting,the company ranked 36th,32nd,and 31st in terms of sales amount (full scale) among real estate development enterprises of China in 2019.The Company was recognized as one of the China's Top 50 Real Estate Developers jointly by the China Real Estate Industry Association,Shanghai Yiju Real Estate Research Institution and China Real Estate Appraisal Center in 2018 and 2019,and one of the China's Top 30 Real Estate Developers in 2020 and Growth Top 10 in 2020 by the China Real Estate Top 10 Research Committee and China Index Academy in 2020.

The Company residential properties can be categorized into three major series,namely,its "Bay" Series,the "Garden" Series and the "Joy" Series,which target first-time home purchasers,home upgraders and extended families or high-income households,respectively. As of June 30,2020,the total land bank attributable to the Company amounted to approximately 15.3 million sq.m.,and the Company had 138 projects at various stages of development.