China’s Boom Up receives requisite consents for 3.8% notes

By William Gullotti

Buffalo, N.Y., Dec. 2 – China Minsheng Investment Corp. Ltd. unit Boom Up Investments Ltd. received the requisite consents related to its consent solicitation for its 3.8% guaranteed notes due 2023 (ISIN: XS1459405673), according to an announcement on Thursday.

The company received votes representing more than 87.1% of the outstanding notes, with 93.1% of those votes in favor of the resolutions, at the noteholders’ Dec. 2 meeting.

The proposed waivers took effect immediately, and the issuer, CMIG International Capital Ltd. (formerly known as CM International Capital Ltd.), is expected to execute the approved fourth supplemental trust deed and the fourth amended and restated pricing supplement within five business days.

As a result, the maturity date has been extended one year to Aug. 2, 2024.

Five business days following execution, the issuer will make a payment of all accrued and unpaid interest from Feb. 2 up to, but excluding, Aug. 2.

Also, the previously reported mandatory partial redemption, totaling $110 million principal amount of notes, will be paid at par plus accrued and unpaid interest from Aug. 2 up to, but excluding, the redemption date.

Trading in the notes has been suspended since Feb. 14, 2019 and will remain suspended until further notice.

Lynchpin Bondholder Management Ltd. is the tabulation agent (+852 2526 5406, buinfo@lynchpinbm.com).

Kirkland & Ellis is the company’s legal adviser (chinaminshent@kirkland.com).

The private investment company is based in China.

© 2015 Prospect News.
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