SF HOLDING (06936.HK): Proposes Guaranteed Bonds Totalling RMB 10 Billion Due 2029 and 2031

NewTimeSpace · 2026/09/16 07:31 · By Zeyu Wu

On 16 September 2026, SF HOLDING (06936.HK) announced that the Company and the issuer entered into a subscription agreement to issue RMB 5 billion 1.75% guaranteed bonds due 2029 and RMB 5 billion 1.85% guaranteed bonds due 2031, with gross proceeds of approximately RMB 10 billion.

Key Highlights:

The 2029 bonds bear interest at 1.75% per annum from 22 September 2026 and the 2031 bonds at 1.85%, both payable semi-annually on 22 March and 22 September; both series were issued at 100.00% of their principal amount.
The issuer, SF Holding Global 2026 Limited, is a British Virgin Islands company and an indirect wholly-owned subsidiary of the Company, with the Company acting as guarantor; the bonds will constitute direct, unconditional, unsubordinated and unsecured obligations of the issuer.
The issuer will redeem the bonds at their principal amount on 22 September 2029 and 22 September 2031, or the nearest interest payment date; the bonds have not been and will not be registered under the US Securities Act and may not be offered or sold in the United States.

NewTimeSpace (newtimespace.com) News: On 16 September 2026, S.F. Holding Co., Ltd. (stock code: 06936) announced that the Company and the issuer entered into a subscription agreement with the joint lead managers on 15 September 2026 for the issue of RMB 5 billion 1.75% guaranteed bonds due 2029 and RMB 5 billion 1.85% guaranteed bonds due 2031. The issuer, SF Holding Global 2026 Limited, is a company incorporated in the British Virgin Islands and an indirect wholly-owned subsidiary of the Company; the Company, as guarantor, unconditionally and irrevocably guarantees the payment of principal, premium and interest on the bonds.

Both series were issued at 100.00% of their principal amount. The 2029 bonds bear interest at 1.75% per annum from 22 September 2026, and the 2031 bonds at 1.85% per annum from the same date, in each case payable semi-annually in arrears on 22 March and 22 September. Unless previously redeemed or purchased and cancelled, the issuer will redeem the 2029 bonds and the 2031 bonds at their principal amount on 22 September 2029 and 22 September 2031 respectively, or the nearest interest payment date. Gross proceeds from the bond issue will be approximately RMB 10 billion, and the net proceeds will be used by the Group for refinancing and/or general corporate purposes.

The Company and the issuer will apply to the Stock Exchange for listing of the bonds. The joint global coordinators and joint bookrunners include HSBC, ICBC International, Bank of China (Hong Kong) and other institutions, twenty in total. The announcement noted that the conditions precedent to completion under the subscription agreement may not be fulfilled and that the agreement may be terminated upon the occurrence of certain events.

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