Brief: Sunshine 100 China Holdings Updates On 12.0% Senior Notes Due 2023

Sunshine 100 China Holdings

03/10/2023 11:19

Oct 3 (Reuters) - Sunshine 100 China Holdings Ltd
 2608.HK :
    * UPDATE ON 12.0% SENIOR NOTES DUE 2023
    * ALL OUTSTANDING PRINCIPAL AMOUNT OF NOTES AND ANY ACCRUED
BUT
UNPAID INTEREST THEREON FALLS DUE ON 3 OCT
    * COMPANY IS NOT ABLE TO REPAY PRINCIPAL AMOUNT OF NOTES AND
ACCRUED BUT UNPAID INTEREST THEREON
    * EVENT OF DEFAULT WITH RESPECT TO NOTES HAS TAKEN PLACE
    * AS AT OCT 3, COMPANY HAS NOT RECEIVED ANY NOTICE REGARDING
ACTION TO ACCELERATE BY ANY CREDITORS
    * AS AT OCT 3, TOTAL OUTSTANDING PRINCIPAL OF NOTES IS
US$120
MILLION
    * HAS BEEN COMMUNICATING WITH HOLDERS OF NOTES TO REACH A
REPAYMENT EXTENSION OR OTHER REPAYMENT ARRANGEMENTS
    * AS AT OCT 3, TOTAL ACCRUED AND UNPAID INTEREST ON NOTES IS
US$38.4 MILLION

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

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