The Board of Directors has approved a resolution for a non-guaranteed commercial paper ｜ Sinyi Realty Inc. ｜ Investor Relations

Subject：The Board of Directors has approved a resolution for a non-guaranteed commercial paper
To which item it meets：paragraph 10
Date of events：2020/09/29

Statement：

1. Date of occurrence of the event:2020/09/29
2. Counterparty to the contract or commitment: China Bills Finance Co., (hereinafter referred to as ”CBF”)
3. Relationship with the Company:none
4. Starting and ending dates (or rescission date) of the contract or commitment:The Agreement shall become effective as of October 15, 2020, and shall remain in effect for a period of four years.
5. Major content (not applicable where rescinded):To increase the Company's working capital, the Company proposed to issue a four-year non-guaranteed commercial paper with a total amount of NT$ 500 million. CBF shall handle all matters relating to this project.
6. Restrictive covenants (not applicable where rescinded):The Company must maintain its long-term credit rating of twA affirmed by Taiwan Ratings Corp. If the rating drops, the interest rate will increase. CBF may choose not to underwrite if the rating is lower than twBBB.
7. Commitment (not applicable where rescinded): The annual issuance fee is calculated at a fixed rate of 0.938% during the first 3 years, and at a floating rate, according to TAIBIR 02 Rate of two business days before each issue date plus 0.438% in the last year.
8. Any other important agreement (not applicable where rescinded):The Company may notify CBF to terminate the Agreement in writing 10 business days before the expiration of 3 years from the date of initial issuance.
9. Effect on company finances and business (not applicable where rescinded): To obtain the working capital and improve the financial structure.
10. Concrete purpose/objective (not applicable where rescinded): To obtain working capital and enhance the financial flexibility.
11. Any other matters that need to be specified: CBF shall notify the Company the fixed-rate periods while the floating-rate periods shall be negotiated by both parties.