On the morning of March 21, China Evergrande (03333.HK), Evergrande Automobile (00708.HK) and Evergrande Property (06666.HK) were all suspended from trading in Hong Kong.
In addition, on March 21, the lead underwriter CITIC Construction Investment Securities announced the results of the first holders' meeting in 2022 regarding the public issuance of corporate bonds (first tranche) by Evergrande Real Estate Group Co., Ltd. to professional investors in 2020.
The holder meeting was held from March 18 to March 19.
At the meeting, the "Proposal on Adjusting the Arrangement for the Payment of Interest on the "20 Evergrande 04" Bonds" and the "Proposal on Requiring the Issuer to Promise "Not to Escape the Debt" were unanimously approved by the bondholders present.
In the arrangement on bond interest redemption, Evergrande Group applied to adjust the interest payment time of the current bond from September 23, 2020 to September 22, 2021 to September 23, 2022 through OTC redemption Complete the payment.
If the issuer fails to complete the above-mentioned interest payment on time, it shall pay liquidated damages at 5/10,000 of the unpaid amount due on a daily basis according to the number of days overdue.
Evergrande Real Estate Group Co., Ltd.'s 2020 public issuance of corporate bonds (first tranche) to professional investors was completed on September 23, 2020, with an issuance scale of 4 billion yuan, a coupon rate of 5.8%, and a bond term of 5 years.