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IL&FS: HSBC seeks repayment of ITNL Offshore’s RMB 1 billion 7½% guaranteed notes due 2021
By Sarah Lizee
Olympia, Wash., June 26 – India’s IL&FS Transportation Networks Ltd. wholly owned subsidiary ITNL Offshore Pte. Ltd. received notice from trustee HSBC that its RMB 1 billion 7½% guaranteed notes due 2021 have become due and payable at par plus accrued interest.
The notes are guaranteed by IL&FS, which noted that HSBC may begin proceedings against ITNL Offshore or IL&FS to enforce the terms of the trust deed and note documentation.
The trust deed for the notes was signed with HSBC in January 2018.
IL&FS Transportation is a surface transportation infrastructure company based in Mumbai, India.
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