General Announcement::Initiation of voluntary liquidation proceedings by Elsamex SA, a Subsidiary of the Guarantor

Issuer & Securities

Issuer/ Manager
ITNL OFFSHORE PTE. LTD.
Securities
ITNLOFFS RMB900M7.5%N210118 - HK0000389657 - 8FAB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
30-Jan-2019 12:33:12
Status
New
Announcement Sub Title
Initiation of voluntary liquidation proceedings by Elsamex SA, a Subsidiary of the Guarantor
Announcement Reference
SG190130OTHRQ4J2
Submitted By (Co./ Ind. Name)
Rahul Chandran
Designation
Authorised Signatory
Effective Date and Time of the event
25/01/2019 17:00:00
Description (Please provide a detailed description of the event in the box below)
The Board of Directors of Elsamex SAU, Spain ( Elsamex ) a material subsidiary of IL&FS Transportation Networks Limited (The Guarantor for the Bonds), has conducted a detailed analysis of the evolution of Elsamex, the financial risks, the lack of liquidity to meet the due dates and the latest court resolutions. Pursuant to the aforementioned analysis, the Board of Directors of Elsamex have unanimously agreed for initiation of voluntary insolvency proceedings in Spain.

Attachments

ITNL Notice_Elsamex.pdf
Total size =38K