China’s Sunkwan pushes out deadline of consent solicitation relating to 2023 notes

By Wendy Van Sickle

Columbus, Ohio, Oct. 17 – Sunkwan Properties Group Ltd. has further extended the deadline of its consent solicitation for its $222.37 million outstanding 12¼% senior notes due 2023 (ISIN: XS2502819274).

The solicitation will now expire at noon ET on Oct. 31.

The consent solicitation began on Oct. 5 and, prior to this extension, was set to expire at noon ET on Oct. 17, pushed out previously from noon ET on Oct. 11.

The company is conducting the consent solicitation to amend the provision in the indenture that requires the company to redeem $12,564,666 of the notes on Oct. 18, 2022 and to postpone this mandatory redemption date.

Haitong International Securities Co. Ltd. (fax: +852 2840 1680; attn.: debt capital markets) is the solicitation agent for the consent solicitation and Kroll Issuer Services Ltd. (+44 20 7704 0880, +852 2281 0114; sunkwan@is.kroll.com; https://deals.is.kroll.com/sunkwan) is the information and tabulation agent.

The property developer is based in Shanghai.

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