Yuzhou Group suspends trading of $500 million 8½% notes due 2023

By Rebecca Melvin

Concord, N.H., March 8 – China’s Yuzhou Group Holdings Co. Ltd. said its $500 million 8½% senior notes due 2023 will be suspended from trading on the Hong Kong Stock Exchange on Wednesday, according to an announcement.

Trading of the 2023 II notes will remain suspended until further notice due to a default triggering event.

The company “is reviewing possible options to implement a holistic solution to the current situation with a view to secure the long-term future of the company for the benefit of all stakeholders,” according to the announcement.

Creditors and other stakeholders will be updated by the company by way of further announcements.

The property developer is based in Shanghai and Shenzhen, China.

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