XJ International creditor files winding-up petition against company

Chicago, April 2 – After demanding repayment, a creditor advanced its demand and filed a winding-up petition against XJ International Holdings Co., Ltd. with the Court of First Instance of the High Court of the Hong Kong Special Administrative Region, according to a notice.

Bank of New York, London Branch filed a petition on March 27, the company reported.

BNY is claiming $324,706,096.59 due on the company’s $350 million 0% guaranteed convertible bonds due 2026.

The petition is scheduled to be heard on June 19.

XJ is seeking legal advice.

Due to the external environment, industry policies and the company’s current financial conditions, the company is experiencing difficulty in redeeming the relevant bonds, the notice stated.

The company still wishes to reach an amicable settlement with the petitioner.

Chengdu, China-based XJ International is an investment holding company engaged in higher education and secondary vocational education services.

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