On June 29, according to the announcement disclosed by Evergrande real estate group, the company’s 7-year “15 Evergrande 03” bonds with a total amount of 8.2 billion yuan due in 2022 were extended to January 8, 2023< Br>
it was announced that the bond was issued on July 8, 2015, with an issuance scale of RMB 8.2 billion, a coupon rate of 6.98%, and a bond term of 7 years, with the issuer’s option to increase the coupon rate and the investor’s option to sell back at the end of the fifth year< Br>
Evergrande real estate group held a bondholders’ meeting from June 28 to 29. The meeting reviewed and passed the proposal on changing the relevant time of the bondholders’ meeting of the current period, the proposal on adjusting the payment arrangement of “15 Evergrande 03” bond principal and interest, and the proposal on requiring the issuer to promise not to evade or abolish bonds< Br>
according to the previous announcement, Evergrande real estate applied to adjust the payment time of the principal of the current bond and the interest during the period from July 8, 2021 to July 7, 2022 to January 8, 2023 (if it is not a trading day, it will be postponed to the first trading day thereafter, and no interest will be charged for the payment during the postponed period). If the issuer fails to complete the payment of the above principal and interest on January 8, 2023 (if it is not a trading day, it will be postponed to the first trading day thereafter, and no interest will be calculated for the payment during the postponed period), the issuer shall pay liquidated damages to the bondholders of the current period at 0.05% of the unpaid amount every day from the next day< Br>
in addition, the bondholder requires the issuer to promise that the current bonds will not evade or abolish the bonds. In case of failure to repay the principal and interest of the bonds on schedule or failure to repay the principal and interest of the bonds on schedule at maturity, the bondholder shall timely formulate a reasonable repayment plan and scheme for consideration by the bondholder, and strictly implement and implement the repayment plan< Br>
on June 28, China Evergrande (03333.hk) announced that top shine Global Limited of intershore consult (Samoa) Limited (the petitioner) had filed a winding up petition for the company to the high court of the Hong Kong Special Administrative Region on June 24, 2022, involving the company’s financial obligations of HK $865.5 million. To the best of the company’s directors’ knowledge and belief, the petitioner is Lian Haomin’s representative< Br>
China Evergrande said that the company would strongly oppose the petition. The company expects that the petition will not affect the company’s restructuring plan or schedule. China Evergrande said that the company has been actively communicating with creditors to promote overseas debt restructuring, and is expected to announce the preliminary plan for overseas debt restructuring before the end of July.