Yida China: Unable to pay $3.45 million in pro rata senior notes on September 30 – yqqlm

Securities Times e Company News, Yida China (03639.HK) announced on October 3 that, according to the terms of the consent solicitation, an amount of US$3.45 million must be paid proportionally on September 30, 2022 to all outstanding senior holder of the note. Due to unfavorable macroeconomic, real estate market and financial conditions, as well as multiple waves of outbreaks, the company was unable to make the payment on the payment date. Non-payment may result in the holder requesting expedited repayment of the senior note. As of the date of the announcement, the company has not received any notice from the senior note holders regarding the accelerated action. The company will maintain proactive communication with creditors and will update the market on any material developments as soon as practicable.