Wed 02/15/2023 02:31 AM
Central China Real Estate Ltd. has told certain investors that the trustee of its $260 million 7.5% senior notes due July 14, 2025, has approved Feb. 17 being within the grace period for a $9.75 million coupon payment under the bond, according to two sources familiar with the matter.
The coupon payment was originally due Jan. 14, which fell on a Saturday. Monday, Jan. 16, was Martin Luther King Jr. Day, a U.S. federal holiday. To account for those factors, the grace period is extended to Feb. 17 accordingly, said a third source.
The developer has another grace period ending soon, for a $7.25 million coupon payment originally due Jan. 16 under its $200 million 7.25% senior notes due July 16, 2024.
Central China did not respond to an email request for comment.
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