Red Star Macalline receives consents to avoid change of control

By William Gullotti

Buffalo, N.Y., June 20 – China’s Red Star Macalline Group Corp. Ltd. received electronic consents from holders of in excess of 90% of the outstanding $249.7 million 5.2% credit-enhanced bonds due 2025 (ISIN: XS2516930489), according to an announcement dated June 19.

As reported June 12, company was soliciting consents to avoid triggering a change-of-control related to a transaction to transfer certain shares held by the company’s controlling shareholder to Xiamen C&D Inc.

The solicitation expired at 11 a.m. ET on June 16, and the supplemental trust deed became effective on June 19.

As previously reported, consenting bondholders will not receive a consent fee.

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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