Brief: Modern Land (China) Says Got Notices From Certain Noteholders Demanding Early Repayment Of Indebtedness

Modern Land (China)

10/01/2022 24:27

Jan 10 (Reuters) - Modern Land (China) Co Ltd  1107.HK :
    * AS AT JAN 10, AGGREGATE OUTSTANDING PRINCIPAL AMOUNT OF
GROUP'S
OFFSHORE SENIOR NOTES IS ABOUT US$1.348 BILLION
    * RECEIVED NOTICES FROM CERTAIN NOTEHOLDERS DEMANDING EARLY
REPAYMENT OF RELEVANT INDEBTEDNESS AND/OR TAKING ENFORCEMENT
ACTIONS
    * APPOINTED FINANCIAL ADVISERS TO ASSIST WITH ITS ONGOING
ASSESSMENT OF GROUP'S LIQUIDITY SITUATION
    * DISCUSSING WITH RELEVANT NOTEHOLDERS FOR A POSSIBLE DEBT
RESTRUCTURING PLAN
    * APPLICATION MADE BY CO FOR RESUMPTION OF TRADING IN SHARES
OF CO
ON STOCK EXCHANGE FROM 9 AM, JAN 10
    * DEBT RESTRUCTURING PLAN FOR CO'S OUTSTANDING DEBT
OBLIGATIONS IN
RELATION TO OFFSHORE SENIOR NOTES
    * HOWEVER, TRADING IN DEBT SECURITIES OF COMPANY WILL REMAIN
SUSPENDED UNTIL FURTHER NOTICE

Source text https://www1.hkexnews.hk/listedco/listconews/sehk/2022/0110/2022011000061.pdf
Further company coverage:  1107.HK 

 ((Reuters.Briefs@thomsonreuters.com;))