| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers H > Headlines for Helenbergh China Holdings Ltd. > News item |
Helenbergh China airs objections to winding-up petition by note trustee
By Marisa Wong
Los Angeles, Aug. 8 – Helenbergh China Holdings Ltd. issued a notice on Tuesday relating to its 11% senior notes due 2023 (ISIN: XS2376908344).
On July 7, Helenbergh and two wholly owned subsidiaries, Broad Pleasant Ltd. and Key Advantage Global Ltd., received a winding-up petition filed by China Construction Bank (Asia) Corp. Ltd., as trustee of Helenbergh’s 11% senior notes due March 2023 (ISIN: XS2297841962), at the High Court of Hong Kong in connection with the outstanding principal amount of $54.6 million and accrued interest.
Helenbergh said that to the best of its knowledge, China Construction represents few noteholders of the March 2023 notes (ISIN: XS2297841962).
The March 2023 notes have been specifically excluded from the relevant event of default provisions under the terms of the 2023 notes (ISIN: XS2376908344).
The presentation of the petitions will not give rise to an event of default under the terms of the 2023 notes, according to Tuesday’s notice.
The company believes that the petitions do not represent the interests of other stakeholders and said it will oppose the petitions vigorously, seek legal advice and take all necessary actions to protect its legal rights.
China Construction’s filing of the petitions does not imply any consequential winding-up of Helenbergh.
As of Aug. 8, no winding-up order was issued by the High Court in relation to Helenbergh or the two named subsidiaries.
Trading of the 2023 notes on the Hong Kong stock exchange has been suspended since Nov. 8, 2022 and will remain suspended until further notice.
The property developer is based in Guangzhou, 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.