Luminance Real Estate Completes Dollar Bond Exchange with Over 96% Support; $143M Cash Repayment, New Notes Due July 2029

Luminance Real Estate (HKEX: 0488) has successfully completed its dollar bond exchange offer and consent solicitation with over 96% support from bondholders, the company announced. Under the exchange terms, the group repaid 30% of the participating bonds' principal in cash, approximately $143 million, with the remaining principal exchanged into new notes with a three-year maturity ending July 28, 2029. Following the transaction and the recent sale of a Central property, the group's total debt has been reduced by approximately $2 billion, improving its liquidity position and financial stability.
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