Sunshine 100 Says It Has Defaulted on Senior Notes Due 2021
(Bloomberg) -- Sunshine 100 China Holdings issues update on 10.5% senior notes due 2021, with outstanding principal amount of notes and any accrued but unpaid interest due on Dec. 5, according to a filing.
- Says it won’t be able to repay principal amount and the accrued interest, due to “liquidity issues arising from the adverse impact of a number of factors including the macroeconomic environment and the real estate industry”
- “As a result, an event of default has taken place,” company adds
- Default will also trigger cross default provisions under some other debt instruments
- NOTE: Sunshine 100 Says Not in Position to Pay Interest of 2021 Bonds
- NOTE: S&P Revises Sunshine 100 China Holdings Rating to D
To view the source of this information click here
©2021 Bloomberg L.P.