Brief: Lai Sun Development Announces Exchange Offer & Consent Solicitation In Respect Of 5% Guaranteed Notes Due 2026
BRIEF-Lai Sun Development Announces Exchange Offer & Consent Solicitation In Respect Of 5% Guaranteed Notes Due 2026 June 15 (Reuters) - Lai Sun Development Co Ltd 0488.HK:
EXCHANGE OFFER AND CONSENT SOLICITATION IN RESPECT OF 5.00 PER CENT. GUARANTEED NOTES DUE 2026
COMMENCES EXCHANGE OFFER AND CONSENT SOLICITATION FOR 5% NOTES DUE 2026
PURPOSE IS TO RELIEVE SHORT TERM LIQUIDITY PRESSURES AND ENABLE ASSET DISPOSALS FOR NOTE REPAYMENT
EXCHANGE OFFER AND CONSENT SOLICITATION EXPIRE AT 4:00 P.M. LONDON TIME ON 7 JULY 2026
EARLY CONSENT FEE TO BE PAID IN CONSENT SOLICITATION U.S.$10 PER U.S.$1,000 IN PRINCIPAL AMOUNT
BASE CONSENT FEE TO BE PAID IN CONSENT SOLICITATION U.S.$2.5 PER U.S.$1,000 IN PRINCIPAL AMOUNT
ELIGIBLE NOTEHOLDER WILL BE ELIGIBLE FOR, WHERE 3CRC DISPOSAL PROCEEDS CONDITION IS SATISFIED, CASH PAYMENT OF U.S.$300, OTHERS
NEW NOTES TENOR WILL BE 3 YEARS AND WILL BEAR INTEREST AT 8.00% PER ANNUM
NEW NOTES WILL BE ISSUED IN DENOMINATIONS OF U.S.$100,000 AND U.S.$1 INTEGRAL MULTIPLES IN EXCESS THEREOF
Further company coverage: 0488.HK
((Reuters.Briefs@thomsonreuters.com;))
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