Dr.Peng Holding Hongkong gets needed consents to amend 2025 notes

By Marisa Wong

Los Angeles, Feb. 16 – Dr.Peng Holding Hongkong Ltd. announced the results of its Jan. 20 solicitation of consents from holders of its $500 million 2½% guaranteed senior notes due 2025 (ISIN: XS1611011922), according to a notice on Thursday.

At the meeting of noteholders held on Feb. 13, the extraordinary resolution proposing amendments to the terms and conditions of the notes as well as some waivers was passed. Holders of 91.87% in principal amount of the outstanding notes were represented at the meeting, with 99.64% of the votes cast being in favor of the extraordinary resolution.

The amendments and waivers became effective as of Feb. 16.

The issuer offered a consent fee of $2.50 per $1,000 principal amount of notes. The issuer paid the consent fee to relevant holders by the effective date.

The aggregate amount of notes outstanding as of Jan. 20 was $244,751,825. A pool factor of 57.95% currently applies to notes held through the clearing systems.

The notes originally carried a coupon of 5.05%, which stepped up to 7.55% on June 1, 2020 and was then adjusted to 2½% on Dec. 1, 2021. The notes were originally set to mature in 2020 and were later extended to 2022 and further to 2025.

Morrow Sodali Ltd. (+852 2319 4130 and +44 20 4513 6933; attn.: debt services team; DrPeng@investor.morrowsodali.com, https://projects.morrowsodali.com/drpeng) is information agent and tabulation agent.

The Hong Kong-based issuer is a subsidiary of Chinese media company Dr.Peng Telecom & Media Group Co., Ltd.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.