HNA Ecotech again extends redemption of 8% notes, now to Jan. 1

By Sarah Lizee

Olympia, Wash., Nov. 2 – HNA Ecotech Panorama Cayman Co. Ltd. said it will once more delay its planned redemption of its $105,638,000 of 8% senior secured notes due 2021 because the financing condition for the redemption has not been met.

The new redemption date is Jan. 1, delayed from Nov. 6, according to a notice form the issuer.

The redemption price will be 104% of par plus accrued interest up to but excluding the redemption date.

Originally the notes were to have been redeemed on Nov. 28, 2017 but it was extended to Jan. 27, 2018 then to March 26, 2018, then May 22, July 17 and Sept. 11.

With the May 22 date, the redemption price fell to 104% of par from 106% of par at the first announcement.

The latest redemption remains conditional on the issuer having funds sufficient to redeem the notes.

HNA Ecotech, formerly known as BCP (Singapore) VI Cayman Financing Co. Ltd., is a high-tech industry holding group based in the Cayman Islands.

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