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China Cord Blood Corporation Announces Completion of $65 Million Convertible Debt Financing with KKR
Date:4/27/2012

HONG KONG, April 27, 2012 /PRNewswire-Asia-FirstCall/ -- China Cord Blood Corporation (NYSE: CO) ("CCBC" or "the Company"), the first and largest cord blood banking operator in China, today announced that it has successfully closed a US$65 million convertible debt financing with funds affiliated with KKR China Growth Fund L.P., a China-focused investment fund managed by Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates, "KKR").  The transaction was first announced on April 12, 2012.

The convertible debt carries a 7% interest per annum and inclusive of the interest, a total internal rate of return of 12% per annum.  With a maturity of five years, the convertible debt holder can convert the convertible debt into ordinary shares of the Company at a conversion price of $2.838, subject to customary anti-dilutive adjustments.  On a fully converted basis, the total ordinary shares issuable represents approximately 23.8% of the enlarged share capital of the Company.

In connection with the transaction, the Company has agreed to file a registration statement with the Securities and Exchange Commission with respect to the ordinary shares issuable upon conversion.  The Company's senior executives and Golden Meditech Holdings Limited and its affiliates have entered into lock-up agreements regarding the ordinary shares currently held by them effective until KKR's investment in the Company decreases below a set threshold (subject to certain exceptions).

The Board of Directors of CCBC has appointed Mr. Julian Juul Wolhardt as a non-executive independent director, effective April 27, 2012. Mr. Wolhardt is a Member of KKR and focused on private equity transactions in the Greater China region.  Mr. Wolhardt is a Certified Public Accountant and Certified Management Accountant, with a bachelor's degree in accounting from the University
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