Yida China fails to pay interest on 2025 notes during grace period

By Mary-Katherine Stinson

Lexington, Ky., May 15 – Yida China Holdings Ltd. has failed to pay the related interest payment on its $191,149,000 outstanding 12% senior notes due April 30, 2025 (ISIN: XS2130508000), the company said in a notice on Monday.

Interest in the amount of $5,734,470 was due on April 30. The grace period expired on May 14.

The company cited unfavorable factors in the macro economy, real estate market and financial environment as the reason for the non-payment.

Due to the default, noteholders may request acceleration of repayment under the notes. No such request has been received yet, according to the company.

Yida China Holdings is a Shanghai-based business park developer and operator.

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