Modernland also issues new notes to investors for cash (New Money Notes), that as a result of the pricing of the New Money Notes on July 29, 2014, the New Notes will have an interest rate of 9.75% per annum (New Issue Coupon), which is the same as the interest rate of 9.75% per annum as set forth in the Exchange Offer and Consent Solicitation Memorandum dated July 14, 2014.
The amount of New Money Notes to be issued on the settlement date relating thereto is, subject to the satisfaction of certain terms and conditions, expected to be US$98,448,000.
The New Money Notes and the New Notes issued in the Exchange Offer are expected to be consolidated and form a single class of New Notes on the Exchange Settlement Date on August 18, 2014.
The Company has appointed Citigroup and UBS as Joint Global Coordinators and Citigroup, JP Morgan,
Standard Chartered Bank and UBS as Joint Bookrunners, Dealer Managers and Solicitation Agents for the
Exchange Offer, Consent Solicitation and offering of the New Money Notes.