Brief: Sunshine 100 China Holdings Defaults On 10.5% Senior Notes Due 2021

Sunshine 100 China Holdings

05/12/2021 22:54

Dec 6 (Reuters) - Sunshine 100 China Holdings Ltd  2608.HK :
    * SUNSHINE 100 CHINA HOLDINGS LTD -  UPDATE ON 10.5% SENIOR
NOTES
DUE 2021
    * SUNSHINE 100 CHINA HOLDINGS LTD -  NOT ABLE TO REPAY
PRINCIPAL
AMOUNT OF NOTES AND ACCRUED BUT UNPAID INTEREST THEREON
    * SUNSHINE 100 CHINA HOLDINGS LTD -  AS AT DEC 6, TOTAL
OUTSTANDING PRINCIPAL OF NOTES IS US$170 MILLION
    * SUNSHINE 100 CHINA HOLDINGS LTD -  AN EVENT OF DEFAULT HAS
TAKEN
PLACE
    * SUNSHINE 100 CHINA HOLDINGS LTD -  DEFAULT WILL ALSO
TRIGGER
CROSS DEFAULT PROVISIONS UNDER CERTAIN OTHER DEBT INSTRUMENTS
    * SUNSHINE 100 CHINA HOLDINGS LTD -  COMPANY HAS NOT
RECEIVED ANY
NOTICE REGARDING ACTION TO ACCELERATE BY ANY CREDITORS
    * SUNSHINE 100 CHINA HOLDINGS LTD -  CROSS DEFAULT
PROVISIONS
INCLUDE THOSE DISCLOSED IN ANNOUNCEMENT OF COMPANY DATED 11
AUGUST 2021
    * SUNSHINE 100 CHINA  -  COMPANY PROACTIVELY COMMUNICATING
WITH
HOLDERS OF NOTES TO REACH A REPAYMENT EXTENSION OR OTHER
REPAYMENT ARRANGEMENTS
    * SUNSHINE 100 CHINA HOLDINGS LTD -  OTHER DEBT INSTRUMENTS
MAY
BECOME IMMEDIATELY DUE AND PAYABLE IF CREDITORS CHOOSE TO
ACCELERATE
    * SUNSHINE 100 CHINA HOLDINGS LTD -  TOTAL ACCRUED AND
UNPAID
INTEREST ON NOTES IS US$8.9 MILLION

Source text for Eikon:  ID: 
Further company coverage:  2608.HK 

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