Yango Group applies to suspend trading of notes due to event of default

By Marisa Wong

Los Angeles, March 23 – China’s Yango Group Co., Ltd. has made an application to the Stock Exchange of Hong Kong Ltd. for the suspension in the trading of its notes with effect from 9 a.m. ET on March 24 until further notice.

The suspension relates to an event of default that has occurred under Yango’s notes.

On Tuesday, Yango made an announcement regarding the non-payment of principal and interest for four series of its onshore notes as well as non-payment of principal and interest on two series of offshore notes. Yango had also missed an interest payment on a separate series of offshore notes.

As of March 23, Yango has not received any notice of acceleration in relation to the notes.

The company said it will make further announcements if there are any new developments.

Yango is a real estate development company based in Shanghai.

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