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China Overseas Land and Investment Limited enters into HK$18 billion club deal Author:China Overseas Land and Investment Ltd.

(Hong Kong, 1 December 2017) China Overseas Land and Investment Limited (the “Company”, or “COLI”; stock code: 0688.HK) is pleased to announce that it has entered into a five-year club loan of HK$18 billion with 15 domestic and foreign banks, which is the largest bank financing in the history of the Company and also one with the most number of participating banks. The rate is at a reasonable HIBOR + 1.38% p.a. and the proceeds will be applied to the Company’s new and existing property projects, refinancing its existing debts and other general corporate purposes.

The syndicated loan drew enthusiastic response, the 15 Chinese and foreign participating banks include: Bank of China (Hong Kong), HSBC, Sumitomo Mitsui Banking Corporation, ICBC (Asia), Agricultural Bank of China Hong Kong Branch, Bank of Communications Hong Kong Branch, China Construction Bank (Asia), DBS Hong Kong Branch, Bank of East Asia, China Development Bank Hong Kong Branch, Hang Seng Bank, UOB, Nanyang Commercial Bank, Oversea-Chinese Banking Corporation, and OCBC Wing Hang Bank.

Year 2017 is a special year for COLI, which sees the Company’s 38th anniversary of establishment, 25th anniversary of listing, and 10th anniversary of being a blue chip constituents of the Hang Seng Index. The Company started off with a market capitalization of around HK$4.2 billion at the beginning of 1992 and grew by 64 times to over HK$ 2700 billion, and distributed an accumulated dividend of more than HK$41.8 billion. The operating results of the Company have been among the top in the industry: Net profit after tax increased from HK$4.22 billion in 2007 to HK$38.39 billion in 2016, keeping a rapid growth of 27.8% CAGR.

While continuing to create value for its shareholders, COLI also attaches equal importance to the interests of its creditors. The Company has always adhered to a sound financial policy, strengthening its cash flow management and maintaining a reasonable standard of borrowing. In 2017, the three major international credit rating agencies assigned to COLI the highest investment grade ratings among mainland property developers: Baa1 (Moody’s), BBB+ (S&P) and A- (Fitch). Earning such strong ratings for several years in a row reflects the capital market’s recognition on the Company’s financial soundness and ability to serve its debt obligation.

Looking ahead, the Company will firmly adhere to the brand concept of “Excellent Integrity. Eternal and Excellent Products” and taking up its corporate mission to “Envision Delightful Space and Create Infinite Value”, living its core values “Diligent Grounded Visionary Innovation”, adhering to the enterprise spirit of “Integrity. Innovation. Pragmatic. Excellence”, staying on the course of sustainable development and strive to achieve “sustainable value-added, harmonious and win-win” for the Company, shareholders, employees, business partners and the society, growing from a great developer to “an Exceptional Global Property Development Corporation”. ”


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