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

HONG KONG SAR- Media OutReach - 19November 2020 - CIFI Holdings(Group) Co. Ltd. ("CIFI" or the "Group", HKEx stock code:884), a leading real estate developer and investor in first-, second- androbust third-tier cities in China, is pleased that the Group successfullypriced its US$350 million,5.5-yearsenior 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 duein the first half of 2021 with coupon rates of 7.625% and 6.875% respectivelyand to redeem one perpetual bonds with a coupon rate of 5.375% for a total sumof US$420 million. The move can help CIFI reduce the average financing costs, saveon interest expenses, and optimize its overall debt structure.

Largeinstitutional investors enthusiastically subscribed for CIFI's newly issuedsenior notes with positive response from the capital market, reflecting themarket's recognition of CIFI's credit quality. The final over-subscription ofthe senior notes was 3.5 times, and total order at peak time was nearly 5 timesof the issue size. The Group's final redemption scale has been upsized fromUS$350 million to US$420 million, which fulfilled the market demand and investors' repurchase needs for twohigh-yield bonds, and also expanded the redemption scaleto meet their repurchase needs for perpetual bonds. The deal ranked the firstin the scale of repurchase agreements among recent Chinese high-yield notesissuers,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-termliabilities, thus maintaining its gearing ratio at a reasonable level andoptimizing its overall debt structure. Looking ahead, the Group will continueto explore diverse financing channels, and maintain its healthy financialposition and abundant cash flow."

About CIFI (Group):

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

Tolearn more about the Company, please visit CIFI's website at: https://www.cifi.com.cn