The Board of Li & Fung Limited announced that the company has carried out a further drawdown under the Programme to offer an issue the New Notes in an aggregate principal amount of $100,000,000 and with an issue date of 29 October 2019. The New Notes, when issued, will be consolidated and form a single series with the Original Notes, and will rank pari passu with the Original Notes. The New Notes are exempt from, and not subject to, the registration requirements under the U.S. Securities Act. The New Notes will be denominated in U.S. dollars, have a maturity date of 4 October 2024, and bear a fixed interest rate of 4.375% per annum during their term. The issue price of the New Notes will be 100.351% of the principal amount of the New Notes (which for the avoidance of doubt includes the accrued interest in respect of the period from, and including, 4 October 2019 to, but excluding, the Closing Date). The company intends to raise funding through the issue of the New Notes primarily for refinancing long-term indebtedness and general corporate purposes. An application will be made by the company to the SGX-ST for the listing of and permission to deal in the New Notes and such permission will be granted when the New Notes have been admitted to the Official List of the SGX-ST, which is expected to be on or about 30 October 2019.