| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers Tenders > Headlines for 2017 > News item |
Central China holders agree to conform five series to recent issues
By Susanna Moon
Chicago, Aug. 21 – Central China Real Estate Ltd. said it obtained the needed consents to amend five series of notes in the solicitation that ended at 11 a.m. ET on Aug. 18.
As a result, Central China plans to execute a supplemental indenture to each series of notes, according to a company notice.
The company said on Aug. 7 that it was soliciting consents for its $200 million 8% senior notes due 2020, $400 million 6½% senior notes due 2018, $300 million 8¾% senior notes due 2021, $200 million 6¾% senior notes due 2021 and $200 million 6% senior notes due 2018.
Central China was asking to amend provisions of the January 2013 notes, the June 2013 notes and the 2015 notes to bring them in line with the terms of its more recently issued 2016 notes and 2017 notes.
The company said it was also looking to add amendments that would “provide greater flexibility for the company to pursue additional business opportunities and make investments in accordance with the company’s business plans.”
The company was offering a consent fee of $2.00 for each $1,000 principal amount.
The consent fee was conditioned on the company securing consents from holders of a majority of the outstanding notes and the execution of a supplemental indenture for each series.
Morgan Stanley & Co. International plc (+852 2239 7358) is the solicitation agent. D.F. King (+44 20 7920 9700, +852 3953 7230, ccre@dfkingltd.com or https://sites.dfkingltd.com/CCRE) is the information and tabulation agent.
The investment holding company is based in Zhengzhou City, China, and primarily engages in property development in the Henan Province of China.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.