Zhongliang warns of default on two series of notes due in April

By Mary-Katherine Stinson

Lexington, Ky., April 14 – China’s Zhongliang Holdings Group Co. Ltd. announced it will not be able to pay the amount due at maturity on two series of notes, according to a notice.

The company warned it does not expect to be able to pay the outstanding principal amount of $200 million for the notes maturing April 17 (ISIN: XS2386495100) and $224,224,517 under the notes maturing April 15 (ISIN: XS2476291062), plus the accrued interest in each case.

The company stated it will continue to communicate with holders of its offshore senior notes, including the April 2023 notes, as it seeks a solution.

The April 2023 notes I will be delisted from the stock exchange at maturity.

Zhongliang is a residential property management company based in Shanghai.

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