| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers L > Headlines for Linyi City Construction Investment Group Co., Ltd. > News item |
China’s Linyi City’s Yi Bright unit gives results of consent solicitation
Chicago, June 21 – Linyi City Construction Investment Group Co., Ltd. wholly owned subsidiary Yi Bright International Ltd. gave results of its consent solicitation regarding its $300 million 3% guaranteed bonds due 2023, according to an announcement.
All of the noteholders voting voted in favor of the extraordinary resolution. Noteholders representing 86.5%, or $259.4 million, of the notes participated in the voting.
As background, the company was seeking to amend the terms and conditions by way of supplemental trust deed including a proposed waiver of the existing right of redemption and a proposed waiver of any and all other breaches and defaults that might result from the waiver of the existing right of redemption.
The consent solicitation expired at 11 a.m. ET on June 18 and started June 11.
The proposed waivers became effective and binding on all bondholders at 11 a.m. ET on June 18.
A consent fee of $1 per $1,000 note will be paid to bondholders who delivered electronic instructions in favor of the proposal prior to the expiration time.
The supplemental indenture will be executed on or around June 23.
The solicitation agents were China International Capital Corp. Hong Kong Securities Ltd. (+852 2266 2153, IB_Yimeng@cicc.com.cn), China Industrial Securities International Brokerage Ltd. (+852 3509 5776, dcm@xyzq.com.hk) and Bank of China Ltd. (+852 2810 1203, dcmhk@bocgroup.com).
The tabulation agent is Bank of New York Mellon, London Branch (+44 207 964 4958, +44 207 964 2509, eventsadmin@bnymellon.com).
The engineering and construction services company is based in Linyi, 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.