Red Star Macalline solicits consents to avoid change of control

Chicago, June 12 – Red Star Macalline Group Corp. Ltd. is soliciting electronic consents for its $249.7 million 5.2% credit-enhanced bonds due 2025 (ISIN: XS2516930489), according to a press release.

The company is soliciting consents to avoid any change-of-control offer on the notes.

The transaction, which might trigger a change of control and subsequent default if a redemption offer is not made, is the transfer of certain shares held by the company’s controlling shareholder to Xiamen C&D Inc.

The solicitation expires at 11 a.m. ET on June 16.

The effective date is expected to be June 19.

There will not be a consent fee paid to bondholders.

Morrow Sodali Ltd. is the information and tabulation agent (+852 2319 4130, +44 20 4513 6933, 203 609 4910, inaredstarmacalline@investor.morrowsodali.com).

The issuer is a Shanghai-based operator and manager of home furnishings shopping malls.

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