Brief: China Smartpay Receives Default Notice In Relation To Bonds From Existing Bond Holders

China Smartpay group

09/05/2023 14:38

May 9 (Reuters) - China Smartpay Group Holdings Ltd
 8325.HK :
    * RECEIVED DEFAULT NOTICE DATED 8 MAY IN RELATION TO BONDS
FROM
EXISTING HOLDERS OF BONDS NAMELY, HONOUR GRACE AND AI SPC
    * NOTICE NOTIFYING EVENT OF DEFAULT ALLEGEDLY OCCURRED SINCE
1
AUGUST 2020 AND IS CONTINUING
    * PURSUANT TO NOTICE, ALLEGED DEFAULT REDEMPTION AMOUNT
PAYABLE TO
HONOUR GRACE AMOUNTS TO USD13.7 MILLION
    * PURSUANT TO NOTICE CO REQUIRED TO REDEEM ALL OF
OUTSTANDING
BONDS AT ALLEGED DEFAULT REDEMPTION AMOUNT WITHIN 10 BUSINESS
DAYS
    * PURSUANT TO NOTICE, ALLEGED DEFAULT REDEMPTION AMOUNT
PAYABLE TO
AI SPC AMOUNTS TO USD20.7 MILLION
    * SEEKING PROFESSIONAL ADVICE , ALSO MAKING CONTINUOUS
EFFORTS TO
SECURE FUNDINGS TO SETTLE ANY OUTSTANDING AMOUNTS OF BONDS
    * BONDHOLDERS HAVE ALLEGED TO RESERVE THEIR RIGHTS TO CLAIM
AGAINST CO ANY DEFAULT INTEREST WHICH HAS ACCRUED BUT REMAINS
UNPAID

Further company coverage:  8325.HK 

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