Hejing Taifu Group (01813) announced that the company defaulted on the terms of the following notes on 2023/5...
According to Zhitong Finance App, Hejing Taifu Group (01813) announced that the company's breach of the terms of the following notes occurred on May 14, 2023. As a result, trading of these notes has been suspended on the Stock Exchange since 9:00 a.m. on 16 May 2023 and will remain suspended until further notice.
(i) 5.875 percent senior notes due in November 2024
(ii) 5.95% Senior Notes due August 2025
(iii) 6.3% senior notes due in February 2026
(iv) 6.0 percent senior notes due August 2026
(v) 7.4% Senior Notes due January 2027
The company has appointed advisors, and the advisors have approached and discussed all possible solutions with the company and its overseas creditors to reach a comprehensive solution to its foreign debts, ensure fair and just treatment of its creditors and stakeholders, and provide a sustainable capital structure. The Group has been actively consulting with its creditors and stakeholders to achieve such a comprehensive solution. The Company will make further announcements in due course to update its securities holders and other investors.