Sino-Ocean subsidiary, bondholders agree on repayment plan

By Marisa Wong

Los Angeles, Nov. 20 – Sino-Ocean Group Holding Ltd. issued an update on two series of corporate bonds issued by subsidiary Sino-Ocean Holding Group (China) Ltd.

The two series are the RMB 3 billion bonds due Oct. 19, 2025 with a current coupon of 4.76% (security code: 122498.SH) and the RMB 2 billion bonds due Aug. 2, 2023 with a current coupon of 4% (security code: 143666.SH).

As of Nov. 17, the subsidiary and the bondholders have reached agreement on a repayment plan, according to Monday’s announcement.

The company said that in order to push forward the tasks related to subsequent bond repayment steadily, trading of the bonds on the Shanghai stock exchange will continue to be suspended. Trading of the two bonds had been suspended since Nov. 7.

The property developer is based in Hong Kong.

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