Crown International delays proposed bond issuance due to virus

By Marisa Wong

Los Angeles, March 20 – Crown International Corp. Ltd. said it will require additional time to negotiate with potential investors for a previously proposed issue of bonds.

The company said it has actively communicated with the potential investors on the bonds over the past three months.

However, in response to drastic market changes linked to the Covid-19 outbreak and a drop in international oil prices, the investors need more time to reevaluate risks. The investors may also require the company to provide collateral securing the bonds.

The Hong Kong-based property and hotel investment holding company said it will make further announcements about the bonds.

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