China’s Fantasia solicits consents to amend four series of notes

By Marisa Wong

Madison, Wis., July 27 – Fantasia Holdings Group Co., Ltd. announced it is soliciting consents to amend the indentures governing its 7 7/8% senior notes due 2016, 13¾% senior notes due 2017, 10 5/8% senior notes due 2019 and 10¾% senior notes due 2020.

The company is seeking to conform the indentures with the terms of its new $200 million 11½% senior notes due 2018 issued on June 1.

The company is offering to consenting noteholders a consent fee of $5 for each $1,000 principal amount of the 2017, 2019 and 2020 notes or, in the case of the 2016 notes, a consent fee of RMB 500 for each RMB 100,000 principal amount.

The consent solicitation will expire at 11 a.m. ET on Aug. 10 for the 2017, 2019 and 2020 notes and 5 a.m. ET on Aug. 17, 2015 for the 2016 notes.

The consent solicitation is conditioned on, among other things, delivery of consents from holders of a majority in principal amount of the outstanding notes of each series.

The record date for the consent solicitation is July 24 at 11 a.m. ET for the 2017, 2019 and 2020 notes and 6 a.m. ET for the 2016 notes.

Merrill Lynch International (attn.: liability management team, fax: +44 20 7995 8582) is the solicitation agent. Citibank, NA, London Branch (attn.: exchange team +44 (0) 20 7508 3867, Exchange.gats@citi.com) is the information and tabulation agent for the 2017, 2019 and 2020 notes, and Citicorp International Ltd. (attn.: regional A&T operations, fax: +852 2621 3183) is the information and tabulation agent for the 2016 notes.

Fantasia Holdings is a property development company based in Shenzhen, China.

© 2015 Prospect News.
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