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Tsinghua begins making payments under bond reorganization plan
By Marisa Wong
Los Angeles, Feb. 10 – Claims under two series of bonds guaranteed by Tsinghua Unigroup Co., Ltd. have been restructured and compromised under a reorganization plan as of Feb. 10, according to a notice on Friday.
The guarantor has begun making the relevant payments under the reorganization plan to trustee Citicorp International Ltd.
The two series are the $750 million 5 3/8% guaranteed bonds due 2023 and $200 million 6½% guaranteed bonds due 2028 issued by Tsinghua Unic Ltd. Guarantor Tsinghua Unigroup no longer controls issuer Tsinghua Unic, according to the notice.
The 2023 bonds matured on Jan. 31 and were subsequently delisted from the Stock Exchange of Hong Kong Ltd.
After withdrawal of listing, bondholders requiring further information in relation to the guarantor’s payment plan may contact the guarantor (attn.: Xiaowen Yang; yangxw@unigroup.com.cn).
Trading of the 2028 notes had been suspended as of Nov. 18, 2020 and remains suspended, the company noted.
The chip maker supplies digital infrastructure and services and is based in Beijing.
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