Redemption of US$420 million senior notes and perpetual bonds reduce average financing costs effectively and optimize debt structure

�

HONG KONG SAR
-�Media OutReach�- 19
November 2020 - CIFI Holdings
(Group) Co. Ltd. ("CIFI" or the "Group", HKEx stock code:
884), a leading real estate developer and investor in first-, second- and
robust third-tier cities in China, is pleased that the Group successfully
priced its US$350 million,5.5-year
senior notes with coupon rate of 5.25% at par on 6 November 2020. Concurrently,
the Group announced its offer to repurchase its two existing senior notes due
in the first half of 2021 with coupon rates of 7.625% and 6.875% respectively
and to redeem one perpetual bonds with a coupon rate of 5.375% for a total sum
of US$420 million. The move can help CIFI reduce the average financing costs, save
on interest expenses, and optimize its overall debt structure.

Large
institutional investors enthusiastically subscribed for CIFI's newly issued
senior notes with positive response from the capital market, reflecting the
market's recognition of CIFI's credit quality. The final over-subscription of
the senior notes was 3.5 times, and total order at peak time was nearly 5 times
of the issue size. The Group's final redemption scale has been upsized from
US$350 million to US$420 million, which fulfilled the market demand and investors' repurchase needs for two
high-yield bonds, and also expanded the redemption scale
to meet their repurchase needs for perpetual bonds. The deal ranked the first
in the scale of repurchase agreements among recent Chinese high-yield notes
issuers,
and became one of the most active participations in the capital market.

Representative of CIFI, said "Through its active debt management,
the Group effectively reduces both its average financing cost and its short-term
liabilities, thus maintaining its gearing ratio at a reasonable level and
optimizing its overall debt structure. Looking ahead, the Group will continue
to explore diverse financing channels, and maintain its healthy financial
position and abundant cash flow."

About CIFI (Group):

Headquartered
in Shanghai, CIFI is one of China's top real estate developers. CIFI
principally focuses on developing high-quality properties in first-, second-
and select third-tier cities in China. CIFI develops various types of
properties, including residential buildings, offices and commercial complexes.

To
learn more about the Company, please visit CIFI's website at: http://www.cifi.com.cn