Tue 07/19/2022 00:05 AM
China South City is considering extending all of its five outstanding offshore notes for one year to 1.5 years and plans to offer a 1% consent fee for the consent solicitation, according to two sources familiar with the matter.
The company’s largest shareholder, Shenzhen SEZ Construction and Development Group Co., plans to provide a keepwell deed for China South City’s offshore notes as credit enhancement, according to the sources.
The current proposal remains preliminary and is subject to...
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