Winsway misses $13.15 million Oct. 8 interest payment on 8½% notes

By Caroline Salls

Pittsburgh, Oct. 9 – Winsway Enterprises Holdings Ltd. did not make the $13.15 million interest payment due Oct. 8 on its 8½% senior notes due 2016, according to a news release.

As previously reported, the company also did not make the interest payment due April 8, 2015 on the notes, and that payment remains outstanding.

Winsway said there is $309.31 million in principal amount currently outstanding on the notes. The standstill agreement related to the notes has most recently been extended to Oct. 15 from Sept. 30.

According to the release, debt restructuring discussions with the bondholders are ongoing.

Winsway is a Hong Kong-based importer of coking coal.

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