Seazen <1030> settlement of offer to buy by New Metro Global Limited for cash of outstanding 4.5% guaranteed SR notes due 2026

New Metro Global Limited, a subsidiary of Seazen Group Ltd., has completed the settlement of its cash tender offer for a portion of its 4.5% guaranteed senior notes due 2026. The company accepted US$167.978 million in principal amount of the notes, which were tendered under the offer that expired on March 5, 2026. A total of US$194.438 million in notes were validly tendered, with settlement finalized on or about March 10, 2026. Following the repurchase, the remaining outstanding principal amount of the 2026 notes is US$236.022 million.

This transaction is part of Seazen's broader efforts to manage its offshore debt profile. The buyback reduces near-term refinancing pressures and lowers interest expenses, as the 4.5% coupon is significantly lower than the 11.88% coupon on its 2027 notes, which are also subject to a concurrent tender offer. The 2026 buyback was funded through internal resources of Seazen Group and its parent company, Seazen Holdings Co., Ltd.

Analysts note that such incremental buybacks reflect a strategic approach to deleveraging amid ongoing challenges in China's property sector. While the actions improve short-term liquidity visibility, they do not fully resolve the company's broader debt restructuring needs. Investors remain focused on Seazen's ability to sustain cash flow and execute further reductions in its offshore liabilities.