Citigroup Global Markets Holdings Inc. (the “Issuer”) announces the offering of guaranteed cash-settled exchangeable bonds due 2026 (the “Bonds”) in an aggregate principal amount of HKD2.35 billion. The Bonds are referable to ordinary shares (the “Shares”) of AIA Group Limited (the “Company”). Exchange rights in respect of the Bonds will be cash-settled only.
The Bonds will be issued in principal amounts of HKD2,000,000 and integral multiples of HKD1,000,000 in excess thereof and will not bear interest. The Bonds will be issued with an issue price of 100% of their principal amount and will be redeemed at par on 26 February 2026 (the “Final Maturity Date”).
The exchange price (the “Exchange Price”) will be set at a 23.5% premium over the reference share price (the “Reference Share Price”), which will be based on the volume-weighted average price of a Share (rounded to four decimal places, with 0.00005 being rounded upwards) on the Hong Kong Stock Exchange on 10 February 2023, subject as provided in the terms and conditions of the Bonds. The Reference Share Price and Exchange Price are expected to be announced by 11:59 p.m. (Hong Kong time) on 10 February 2023.
Settlement and delivery of the Bonds is expected to take place on 23 February 2023 (the “Issue Date”).
Citigroup Global Markets Limited is acting as Sole Global Coordinator, Sole Bookrunner and Calculation Agent.
