Yestar Healthcare reports default for 9˝% notes due 2026

By William Gullotti

Buffalo, N.Y., July 31 – Yestar Healthcare Holdings Co. Ltd. did not tender the scheduled interest payment due June 30 for its $197,864,523 9˝% notes due Dec. 30, 2026 (ISINs: XS2407822357, XS2407822274, XS2407823249), and the 30-day grace period has expired, according to an announcement on Monday.

According to the announcement, noteholders have not yet exercised acceleration rights for notes, and the company is currently communicating with “major holders” to explore and implement potential ways to address its liquidity issues.

Bank of New York Mellon, London Branch is the principal paying agent for the Regulation S, Regulation D and Rule 144A notes, which were issued on Dec. 30, 2021 and listed on the Singapore Exchange the next day.

Yestar is a Shanghai-based supplier of medical consumables for the in vitro diagnostic market and a manufacturer and distributor of medical imaging products.

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