Imperial Pacific notes extended, interest capitalized, rate increased

By Wendy Van Sickle

Columbus, Ohio, March 20 – Imperial Pacific International Holdings Ltd. as issuer and Hao Tian Resources Group Ltd. as holder of all of the notes agreed to increase the principal amount of the $30 million of 8˝% notes due Jan. 25, 2020 by $2.55 million by capitalizing accrued interest, according to a notice.

The parties also agreed to extend the maturity date of the notes to April 25, 2021 and increase the interest rate to 10˝% effective Jan. 25.

The amendments were made due to the impact of the outbreak of the novel coronavirus and recent social unrest in Hong Kong, which has affected the Imperial Pacific’s business, according to the notice.

Imperial Pacific is a Hong Kong-based investment holding company.

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