On November 27, 2021, Anta Sports (02020.HK) announced that on November 26, 2024, ANLLIAN Capital (a direct wholly-owned subsidiary of the company) and the guarantors plan to repurchase existing convertible bonds that have not yet been redeemed in accordance with the terms and conditions of the existing bonds (that is, issued by ANLLIAN Capital and unconditionally and irrevocably guaranteed by the company, with a total principal amount of 1 billion euros and zero interest guaranteed convertible bonds due in 2025). As of the announcement date, the total principal amount of existing convertible bonds that have been promised to be sold from holders is €0.9455 billion, and the remaining outstanding bonds are approximately €54.5 million. According to the terms and conditions of the existing bonds, ANLLIAN Capital, guarantors, or their affiliates may continue to purchase the remaining unredeemed existing convertible bonds on the open market or by other means.
On November 26, 2024, ANLLIAN Capital 2 (a direct wholly-owned subsidiary of the company), the guarantor and the manager signed a subscription agreement for the issuance of the proposed new bonds (to be issued by ANLLIAN Capital2 and unconditionally and irrevocably guaranteed by the guarantors, with a total principal amount of 1.5 billion euros and zero interest guaranteed convertible bonds due in 2029). The manager agreed to subscribe and pay individually rather than jointly, or procure the subscribers to subscribe and pay the new bonds with a total principal amount of 1.5 billion euros to be issued by ANLLIAN Capital 2. The Guarantor agrees to unconditionally and irrevocably guarantee that ANLLIAN Capital 2 will properly pay all amounts clearly payable under the Trust Deed and New Bonds. The new bonds can be converted into exchange shares according to the initial exchange price. If the new bonds are fully converted at an initial exchange price of HK$104.02 per share, they will be converted into approximately 0.1176 billion shares, equivalent to approximately 4.16% of the company's issued share capital, and approximately 3.99% of the company's issued share capital expanded by issuing shares in exchange after all the new bonds have been converted. The new bonds have been approved in principle and can be listed and listed on the Singapore Stock Exchange's official list.
The total proceeds from the issuance of the new bonds and the net proceeds (after deducting commissions and expenses) will be €1.5 billion and approximately €1.487 billion, respectively. The estimated net proceeds will be used for: (i) repurchase settlements; (ii) share repurchases, where the company will repurchase shares over a longer period of time, independently of and separately from the share repurchase plan announced by the company on August 27, 2024 in accordance with applicable laws and regulations; and (iii) general corporate purposes.
