General Announcement::UPDATE ON 12.85% SENIOR NOTES DUE 2021 AND CONTINUED HALT IN TRADING

Issuer & Securities

Issuer/ Manager
MODERN LAND (CHINA) CO., LIMITED
Securities
MODLD US$203.797M12.85%N211025 - XS1986632716 - PITB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
26-Oct-2021 08:01:00
Status
New
Announcement Sub Title
UPDATE ON 12.85% SENIOR NOTES DUE 2021 AND CONTINUED HALT IN TRADING
Announcement Reference
SG211026OTHRNYLG
Submitted By (Co./ Ind. Name)
Modern Land (China) Co., Limited / Zhang Peng
Designation
Director
Description (Please provide a detailed description of the event in the box below)
References are made to the overseas regulatory announcement of the Company dated 11 October 2021 (the "Consent Solicitation Announcement") relating to the Consent Solicitation in respect of the 12.85% Senior Notes Due 2021 issued by the Company and listed on the Singapore Exchange Securities Trading Limited (ISIN No.: XS1986632716, Common Code: 198663271) (the "Notes") and the overseas regulatory announcement of the Company dated 20 October 2021 (the "Termination Announcement"). Unless otherwise defined herein, capitalized terms used in this announcement shall have the meanings ascribed to them in the Consent Solicitation Announcement and the Termination Announcement.

Under the indenture governing the Notes, all outstanding principal amount of the such Notes and any accrued but unpaid interest thereon fell due on 25 October 2021. Owing to unexpected liquidity issues arising from the adverse impact of a number of factors including the macroeconomic environment, the real estate industry environment and the COVID-19 pandemic faced by the Group recently, the repayment arrangement of the principal amount of the Notes and the accrued but unpaid interest thereon was not met on that day.

Attachments

e_01107ann-20211026 20211026_0328.pdf
Total size =60K