Yuexiu Property Company Limited (Stock Code: 00123) disclosed that JOY DELIGHT INTERNATIONAL LIMITED, its indirect wholly-owned subsidiary, has entered into a subscription agreement to issue CNY2,850,000,000 3.30% guaranteed green notes due 2028, with Yuexiu Property Company Limited acting as guarantor. According to the announcement dated 27 October 2025, the gross proceeds before relevant fees and expenses amount to CNY2,850 million.

The notes will be offered to professional investors only, with an intended listing on The Stock Exchange of Hong Kong Limited by way of debt issues. The interest rate on the notes will be 3.30% per annum, payable semi-annually, and holders will have a redemption option if there is a change of control event, as defined in the terms and conditions.

In line with the relevant review and registration requirements, the net proceeds will be used to refinance certain medium to long term offshore debts maturing within one year for the issuer, the guarantor, and its subsidiaries. An amount equal to the net proceeds will also be allocated to eligible green projects, following the company’s Sustainable Finance Framework. Completion of the subscription agreement remains subject to certain conditions precedent and may or may not proceed as planned.