Chinese developer Modern Land ends process to change bond terms

Modern Land (China)

21/10/2021 01:17

SHANGHAI, Oct 21 (Reuters) - Chinese property developer
Modern Land (China) Co  1107.HK  said late on Wednesday it had
ended an attempt to seek bondholder approval to change the terms
of its 12.85% senior notes due 2021, citing liquidity issues.
    In a filing to the Singapore Exchange, Modern Land said it
had determined the "consent solicitation", which would extend
the maturity date of a dollar bond due on Oct. 25, was not in
the best interest of the company and its stakeholders.
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 (Reporting by Andrew Galbraith; Editing by Jacqueline Wong)
 ((Andrew.Galbraith@tr.com; +86 21 2083 0079; Reuters Messaging:
andrew.galbraith.thomsonreuters.com@reuters.net ; Twitter: https://twitter.com/apgalbraith))