SEAZEN (01030) subsidiary New City Global Limited intends to issue $355 million 11.8% guaranteed senior notes due in 2029.

SEAZEN (01030) announces that New City Global Limited intends to issue guaranteed senior notes denominated in US dollars, with the company providing the guarantee. On February 26, 2026, the issuer and the company have entered into a purchase agreement with Citigroup Global Markets Limited, Haitong International Securities Limited (in alphabetical order), and Longshi Capital Management Limited (as initial buyers) for the issuance and sale of $355 million 11.8% guaranteed senior notes due in 2029. The total proceeds from the issuance of the notes are expected to be approximately $345 million. The issuer and the company plan to use the net proceeds from the issuance of the notes for funding the simultaneous purchase offer in 2026, refinancing existing debt, and general corporate purposes. The issuance of the notes is expected to be completed on March 9, 2026.