On June 27, Guangzhou based Tianyu real estate (Holdings) Co., Ltd. (Tianyu real estate, 00059.hk) announced that at the request of the company, due to the cross default of each debt, the trading of corporate bonds (Stock Code: 5310, 5311, 5367, 5379, 5567, 5580, 5602, 5626, 5821 and 5855) will be suspended on the Hong Kong stock exchange from 9:00 a.m. on June 28, 2022 until further notice. The company will provide the latest information to bondholders and other stakeholders in the form of further announcements in due course< img alt="" width="600" src=" https://imagecloud.thepaper.cn/thepaper/image/202/920/691.png "> earlier in the day, Tianyu real estate announced that it had 10 bonds listed on the Hong Kong stock exchange, and the outstanding book value was about HK $1.19 billion as of June 27.
Tianyu real estate also announced that it had a mortgage loan (the loan) in a financial institution (lender) in Hong Kong The outstanding principal is HK $340million. As the lender failed to approve the extension of the loan after the grace period, all outstanding principal and interest of the loan are now due and payable, and the company is unable to repay the outstanding principal and accrued interest of the loan in real time< Br>
Tianyu real estate said that it was still actively communicating with the lender to reach a consensus solution to solve the current liquidity problem. As of the date of this announcement, the lender has not taken any enforcement action. Therefore, if the relevant creditors of other overseas financing arrangements choose to accelerate the repayment according to the terms of other overseas financing arrangements of Tianyu real estate, other overseas financing arrangements (including but not limited to the debt securities issued by the company and listed on the stock exchange of Hong Kong Limited listed in the table below) may be immediately due and payable< Br>
Tianyu real estate said that it would seek to actively communicate with the relevant creditors of other overseas financing arrangements on the proposed remedies for the group’s outstanding events. At present, Tianyu real estate has not received any formal and effective notice from any creditor on any enforcement action related to other offshore financing arrangements. In view of the liquidity problem, in order to better protect the interests of all stakeholders, Tianyu real estate is seeking advice from relevant professional intermediaries to assist in assessing the capital structure and liquidity of the group and explore all feasible solutions to alleviate the current liquidity problem< Br>
on June 15, Tianyu real estate announced that the principal and interest of the priority notes in July 2022 and December 2023 should be paid when they are due. Two preferred notes, one of which is the 13% interest bearing preferred note (International Securities number: xs2022224047) issued by the company and listed on the Singapore Stock Exchange Co., Ltd. (“Singapore Stock Exchange”). The principal and interest maturity dates are both July 8, 2022, of which the outstanding principal is US $247million, and the interest to be paid on the maturity date is US $16.055 million (the company has a 30 day grace period to pay interest)< Br>
the other one is the 13% interest bearing preferred notes (International Securities No.: xs2272702338) issued by the company’s subsidiary and listed on the Singapore Stock Exchange on December 16, 2023, with an outstanding amount of USD 292million. The interest to be paid on June 16, 2022 and December 16, 2022 is $18.98 million (the company has a 30 day grace period to pay interest)< Br>
as of June 27, Tianyu real estate closed at HK $0.098, down 4.85%.