Xinyuan Real Estate Announces New Bond Repurchase Program
BEIJING, Jan. 22, 2020 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), an NYSE-listed real estate developer and property manager, today announced that effective January 20, 2020, the Board of Directors approved a new bond repurchase program of up to US$50 million. The new authorization is valid through December 31, 2021, and replaces the prior repurchase authorization that expired on December 31, 2019.
"This new repurchase program demonstrates the Board's confidence in our business model, our strong financial position and the sustainability of our free cash flow," said Mr. Yong Zhang, Chairman of Xinyuan. "We will opportunistically continue our repurchase program while maintaining ample liquidity. This gives us the flexibility to optimize debt structure while continuing to support growth."
Bonds will be selected for repurchase at the Company's discretion, based on price, timing and other considerations. Repurchases under this program will be made through a combination of open market and privately negotiated transactions.
The Company gives no assurance that the repurchase authorization will be completed either fully or partially. Furthermore, there is no assurance as to what price, if any, will be paid for any series of Bonds.
This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States or any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Xinyuan Real Estate Co., Ltd.
Xinyuan Real Estate Co., Ltd. ("Xinyuan") is an NYSE-listed real estate developer and property manager primarily in China and in other countries. In China, Xinyuan develops and manages large scale, high quality real estate projects in over ten tier one and tier two cities, including Beijing, Shanghai, Zhengzhou, Jinan, Xi'an, Suzhou, among others. Xinyuan was one of the first Chinese real estate developers to enter the U.S. market and over the past few years has been active in real estate development in New York City. Xinyuan aims to provide comfortable and convenient real estate related products and services to middle-class consumers. For more information, please visit http://www.xyre.com.
Forward Looking Statements
Certain statements in this press release constitute "forward-looking statements". These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements includes statements about intended securities repurchases, among others, and can generally be identified by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates" and similar statements. Statements that are not historical statements are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including, but not limited to, our ability to continue to implement our business model successfully; our ability to secure adequate financing for our project development; our ability to successfully sell or complete our property projects under construction and planning; our ability to enter successfully into new geographic markets and new business lines and expand our operations; the marketing and sales ability of our third-party sales agents; the performance of our third-party contractors; the impact of laws, regulations and policies relating to real estate developers and the real estate industry in the countries in which we operate; our ability to obtain permits and licenses to carry on our business in compliance with applicable laws and regulations; competition from other real estate developers; the growth of the real estate industry in the markets in which we operate; fluctuations in general economic and business conditions in the markets in which we operate; and other risks outlined in our public filings with the Securities and Exchange Commission, including our annual report on Form 20-F for the year ended December 31, 2018. Except as required by law, we undertake no obligation to update or review publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statement is made.
For more information, please contact:
Xinyuan Real Estate Co., Ltd.
Mr. Charles Wang
Investor Relations Director
Tel: +86 (10) 8588-9376
The Blueshirt Group
In U.S.: Ms. Julia Qian
In China: Ms. Susie Wang
Mobile: +86 (138) 1081-7475
SOURCE Xinyuan Real Estate Co., Ltd.