Tsinghua Unigroup’s meeting successful; bond trading still suspended

By Marisa Wong

Los Angeles, Oct. 29 – Tsinghua Unic Ltd. disclosed results of the first creditors’ meeting for the consolidated reorganization of Tsinghua Unigroup Co., Ltd., guarantor of its $750 million 5 3/8% bonds due 2023 and $200 million 6½% bonds due 2028, according to a company announcement.

A first creditors’ meeting for the consolidated reorganization of Tsinghua Unigroup and six subsidiaries was convened on Oct. 18.

Tsinghua announced on Friday that both proposals presented at the meeting, including one related to property management and one relating to convening subsequent creditors meetings, were passed.

The 2023 bonds and 2028 bonds remain suspended until further notice, the company also noted. The suspension of trading had taken effect on Nov. 18, 2020.

The chip maker supplies digital infrastructure and services and is based in Beijing.

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