Issuance of US$100,000,000 12.5% Senior Notes from Yincheng International2019.12.19

【19 December 2019, Hong Kong】Yincheng International is pleased to announce the issuance ofUS$100,000,000 12.5% senior notes due 2020. Approval in-principle has beenreceived from the SGX-ST for the listing and quotation of the Notes on theSGX-ST. Settlement date of the Notes is December 23, 2019, and maturity date isDecember 21, 2020.

Companyentered into placing agreement in connection with the Notes Issue on December18, 2019. Guotai Junan International, China Investment SecuritiesInternational, Vision Capital International HoldingsLimited,BOC International and Central WealthSecurities Investment Limited have been appointed as the placingagents of the Notes Issue.

TheCompany plans to use the net proceeds from the NotesIssue for refinancing of certain existing indebtedness of the Company andgeneral corporate purposes.

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