General Announcement::INSIDE INFORMATION NON-PAYMENT OF OUTSTANDING PRINCIPAL AMOUNT ON 6.95% SENIOR NOTES DUE 2020

Issuer & Securities

Issuer/ Manager
YIDA CHINA HOLDINGS LIMITED
Securities
YIDACHINAUS$224.899M10%N220327 - XS2130508000 - 8B4B
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
24-Apr-2020 17:15:59
Status
New
Announcement Sub Title
INSIDE INFORMATION NON-PAYMENT OF OUTSTANDING PRINCIPAL AMOUNT ON 6.95% SENIOR NOTES DUE 2020
Announcement Reference
SG200424OTHR4OW3
Submitted By (Co./ Ind. Name)
Yida China Holdings Limited
Designation
Zhe Li
Effective Date and Time of the event
24/04/2020 17:00:00
Description (Please provide a detailed description of the event in the box below)
Pursuant to the Indenture, all outstanding principal amount of the 2020 Notes shall be due on 19 April 2020, and, as 19 April 2020 is a Sunday, such amount shall be paid on 20 April 2020, the immediate next business day. As of the date of this announcement, such payment has not been made by the Company. Such non-payment of the outstanding principal amount of the 2020 Notes constitutes an event of default under the Indenture. The Company has the necessary funds onshore in mainland China for payment of the outstanding principal amount of the 2020 Notes but is still in the process of arranging to transfer the relevant onshore funds offshore. The Company expects that it will complete the payment process on or before 24 April 2020.