China’s Reward Science to miss July 25 interest payment on 7¼% notes

By Angela McDaniels

Tacoma, Wash., July 22 – Reward International Investment Ltd. cannot pay the interest due July 25 on its $200 million 7¼% senior notes due 2020, according to a company filing with the Stock Exchange of Hong Kong Ltd.

The notes are guaranteed by Reward Science and Technology Industry Group Co., Ltd. and Reward (HK) International Co. Ltd.

As previously reported, Reward Science and Technology entered bankruptcy in May, and trading in the notes has been suspended since Dec. 13, 2018.

According to a separate filing, on July 15 the People’s Court of the Chaoyang District of Beijing gave the company permission to manage its property and operation affairs under the supervision of the administrator.

Beijing-based Reward Science and Technology makes and distributes food products including milk powder and anhydrous butter products.

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