According to the Zhitong Finance App, Jingrui Holdings (01862) announced that the company's 12.0% senior notes due in January 2024 will expire on January 28, 2024. At maturity, the outstanding principal amount of the notes of US$165 million and accrued interest of US$9.9 million were due and payable.
As the company is considering a potential full restructuring of all US dollar senior notes to treat all creditors fairly, the company has suspended payment of the notes. Failure to pay may allow other creditors to demand that the group expedite repayment of their debts.
When the notes expire, the notes will be delisted from The Stock Exchange of Hong Kong Limited.