Asia
Lai Sun Development Wins Bondholder Consent for Bond Restructuring, Concludes Exchange Offer
Lai Sun Development (HKG:0488) secured consent from bondholders holding 5% guaranteed bonds issued by LAI SUN MTN and due 2026 under its consent solicitation exercise and the extraordinary resolution was passed.Following the fulfillment or waiver of certain conditions, the consent fees and any ineligible bondholder payments are expected to be paid on or about July 28.Additionally, the bondholders tendered nearly $477 million of bonds for exchange before the exchange offer expired Tuesday and all of them have been accepted.For each $1,000 in principal amount of existing bonds tendered for exchange, holders will receive $300 in cash and $700 in new notes on or around July 28.
HKG:0488
