Lai Sun Development finalises exchange offer: issues US$333.88 million in new notes and pays US$143.09 million cash, leaving US$16.03 million of 2026 notes outstanding

Bulletin Express

Jul 29

Hong Kong–listed Lai Sun Development Company Limited (Lai Sun Development; stock code 00488) has completed the settlement of its consent solicitation and exchange offer for the 5.00% guaranteed notes due 2026 (ISIN XS2368038050), originally issued by Lai Sun MTN Limited and guaranteed by the company.

The consent solicitation has become effective after the payment of consent fees, and the related amendment documentation was executed on 28 July 2026, bringing the proposed amendments and waivers into force.

Concurrently, the exchange offer closed with all conditions fulfilled: • The new issuing vehicle (“New Issuer”) delivered US$333.88 million in aggregate principal amount of new notes to participating holders. • Lai Sun Development paid US$143.09 million in cash consideration. • Following settlement, only US$16.03 million principal of the original 5.00% guaranteed notes remains outstanding.

GLAS Agency (Hong Kong) Limited acted as both exchange agent and information & tabulation agent for the transaction.

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