Central China Real Estate appoints advisers for holistic solution

Chicago, July 20 – Central China Real Estate Ltd. appointed advisers as it seeks a holistic solution to its “offshore debt situation,” according to a company announcement.

BNP Paribas Securities (Asia) Ltd. (dl.projects.ccre@asia.bnpparibas.com) and Haitong International Securities Co. Ltd. (project.ccre.lm@htisec.com) will be the financial advisers. Linklaters will be the company’s legal adviser (dlccre@linklaters.com).

The company said that it will ensure that all its offshore creditors are treated in a fair and equitable manner, and at the same time will continue to communicate with offshore creditors in order to provide a holistic solution to resolve its current liquidity issue.

As previously announced in June, the company was unable to make the interest payment on its 7¾% senior notes due 2024 (ISIN: XS2262030369).

It then suspended all interest and principal payments on its U.S. dollar senior notes.

The holistic solution will aim to ensure the long-term development of the group as the company works to overcome the challenges faced by the industry.

Offshore creditors are encouraged to contact the advisers.

Central China is a Hong Kong-based investment holding company mainly engaged in property development.

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