Starrise Media extends HK$180 million convertibles maturity to 2021

By Rebecca Melvin

New York, April 21 – Starrise Media Holdings Ltd. announced that the maturity date for its HK$180 million of convertible bonds has been extended by one year to Feb. 28, 2021.

The extension was made pursuant to a second extension agreement.

As previously reported, the company sought to extend the convertibles due to the Covid-19 outbreak, which has caused all the films and television dramas that the group is engaged in to be postponed to the second half of 2020. The delays adversely affect the group’s ability to recover its investments from these productions and satisfy the working capital requirements of the group.

Based in Beijing, Starrise invests in films and television drama production and jacquard weaving.

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