HNA Ecotech further extends redemption of 8% notes to Dec. 10

By Sarah Lizee

Olympia, Wash., Oct. 15 – HNA Ecotech Panorama Cayman Co. Ltd. has further extended the planned redemption of its $105,638,000 of 8% senior secured notes due 2021, because the condition for redemption has still not been met.

The new redemption date is Dec. 10, delayed from Oct. 14.

Originally the notes were to have been redeemed on Nov. 28, 2017, but the redemption date was extended to Jan. 27, 2018, then to March 26, 2018, May 22, 2018, July 17, 2018, Sept. 11, 2018, Nov. 6, 2018, Jan. 1, 2019, Feb. 21, April 22, June 18 and Aug. 16.

The redemption price is 102 plus accrued interest up to but excluding the redemption date.

The redemption price was originally 106 but later dropped to 104 and finally to 102.

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

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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