Gelonghui, January 10, 丨 Jingye Mingbang Group (02231.HK) issued an announcement. As of 4:00 p.m. on January 9, 2024 (London time), existing notes with a principal amount of US$152.1 billion (equivalent to 100% of the total principal amount of the existing notes that have not been repaid) have been effectively submitted for exchange and accepted in accordance with the exchange offer.
For existing notes that have been validly submitted and accepted for exchange, the eligible holders of the existing notes will charge the exchange price on or around January 11, 2024, after the other prerequisites for the exchange offer are met or waived, and the new notes are expected to be listed on the Stock Exchange on or around January 12, 2024.
The company will seek new notes with a total principal amount of approximately US$159 million to be listed on the Stock Exchange. The acceptance of a new note by the Stock Exchange should not be regarded as an indicator that the company or the new instrument has certain advantages. The new notes have no ratings.