China Maple Leaf announces put availability amid trading suspension

By William Gullotti

Buffalo, N.Y., April 18 – China Maple Leaf Educational Systems Ltd. suspended trading for its 2.25% convertible bonds due 2026 due to the occurrence of a relevant event, according to an announcement on Tuesday.

As previously reported, $50 million of the convertibles were previously redeemed by the company on Feb. 3, leaving $75 million outstanding.

Trading of the company’s shares and debt securities on the Hong Kong stock exchange had been suspended on May 3, 2022 and remains suspended.

The suspension resulted in a relevant event on April 17, permitting bondholders to exercise put rights in whole or in part.

The company has continued to retain Ashurst Hong Kong as its legal adviser in relation to the bonds and is seeking to engage with an ad hoc group of bondholders to facilitate discussions regarding feasible proposals and options.

Bondholders may contact representatives of Ashurst Hong Kong (cml@ashurst.com) for additional information.

Citicorp International Ltd. is the trustee.

China Maple Leaf is a China-based independent international school system.

© 2015 Prospect News.
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