Jiangsu Zhongguancun: put option triggered for 6.2% bonds due 2025

By William Gullotti

Buffalo, N.Y., March 9 – Jiangsu Zhongguancun Holding Group (International) Co., Ltd. reported that guarantor Jiangsu Liyang Hightech Zone Holding Group Co., Ltd. failed to complete registration for its $200 million 6.2% guaranteed bonds due 2025 (ISIN: XS2533580846), according to a relevant event notice on Thursday.

Due to the occurrence of a no-registration event, the bonds will be putable at par plus interest until April 7. Any submitted put exercise notice will be irrevocable.

The settlement date will be April 21.

The Regulation S bonds were issued Sept. 27 and listed on the Hong Kong Exchange on Sept. 28. All $200 million of the issue is currently outstanding.

Jiangsu Zhongguancun is a real estate company based in Changzhou, China.

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