CHUANG'S INT'L (00367.HK): US$3.5m China SCE notes exchanged for new notes, MCB and about 2.6m shares
NewTimeSpace News: On October 26, 2026, Chuang's Consortium International Limited (CHUANG'S INT'L, 00367.HK) announced that its investment banks have informed the group that, with reference to its current status and the latest public information from the issuer, it has received or is expected to receive the New China SCE Package, following the exchange of the Old China SCE Notes under the China SCE Restructuring with a restructuring effective date of October 23, 2026.
The group's wholly-owned subsidiary previously held the issuer's 5.95% notes due September 29, 2024 with a principal amount of US$3.5 million. The new package comprises 2.00% notes due October 22, 2032 in the principal amount of approximately US$1.4 million; mandatory convertible bonds due April 22, 2028 convertible into the issuer's ordinary shares, in the principal amount of approximately US$1.6 million; and approximately 2.6 million ordinary shares of the issuer. The package was exchanged for the old notes together with about US$400,000 of outstanding interest, and no cash consideration was paid or received by the group.
The issuer's new notes total approximately US$603 million and carry interest at 2.00% per annum, payable in kind for the first 30 months from the issue date and in cash thereafter. The notes will be redeemed in principal amounts of 1%, 1%, 5%, 10%, 10% and 15% at 36, 42, 48, 54, 60 and 66 months from the issue date respectively.
