CSI Properties (00497) issued an additional $50 million of 10.50% secured notes due in 2028.

CSI Properties (00497) announced that ESL will issue $150 million 10.50% secured notes due in 2028 on May 21, 2025, and $50 million 10.50% secured notes due in 2028 on September 29, 2025. On May 21, 2026, the company and ESL (a wholly-owned subsidiary of the company) entered into a subscription agreement with HSBC Bank (Hong Kong and Shanghai) Limited (as the exclusive global coordinator, exclusive lead manager, and exclusive bookrunner) for the issuance of additional new notes. The terms and conditions of the additional new notes are the same as the new notes, except for the issue price, delivery date, and the amount ESL must redeem on a specified date. The additional new notes will merge with the new notes after issuance and form a single series, constituting further notes issuance based on the terms and conditions of the new notes. The total proceeds from the issuance of the additional new notes (before deduction of underwriting commissions and estimated issuance expenses) will amount to $50.875 million, excluding accrued interest from May 21, 2026 (inclusive) to the settlement date of the additional new notes (excluding that date). ESL will use the net proceeds in full for refinancing or repayment of debts of the company and/or other group members.