Home Inns and Hotels Management Inc. Announces the Closing of US$184 Million Offering of Convertible Senior Notes

Home Inns & Hotels Management Inc. hasĀ  announced the closing of its offering of US$184 million in aggregate principal amount of 2.00% convertible senior notes due 2015.

The offering included the exercise by the initial purchasers of their option to purchase up to an additional US$24 million of the convertible senior notes to cover over-allotments. The notes were offered to (1) qualified institutional buyers pursuant to Rule 144A under the United States Securities Act of 1933, as amended (the “Securities Act”), and (2) investors outside the United States in compliance with Regulation S under the Securities Act.

The Company will file a shelf registration statement for resale of the notes and the Company’s ordinary shares represented by the ADSs, if any, issuable upon conversion of the notes and use its commercially reasonable best efforts to cause such registration statement to become effective under the Securities Act by the 210th day after the notes are issued.

Home Inns & Hotels Management Inc. intends to use the approximately US$177,9 million of net proceeds from this offering for new business development, investments in complementary businesses and assets, strategic acquisitions and for general corporate purposes.

The notes and the ADSs into which such notes may be convertible have not been registered under the Securities Act or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state laws.



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