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SHIMAO GROUP (00813.HK) Offshore Debt Instruments Trigger Default With Outstanding Principal Exceeding USD9B
2026-10-26 09:28:48 SHIMAO GROUP (00813.HK) said that as the winding-up petition had neither been withdrawn nor stayed within 60 consecutive days from the date of service on Aug 27 this year, and the period expired on Oct 25 this year, events of default had occurred under each of the affected offshore debt instruments. The aggregate outstanding principal amount of the affected debt instruments was approximately USD9.068 billion, including approximately USD771 million in short-term loans and approximately USD1.269 billion in long-term loans. The group said the outstanding principal balances, premiums, and accrued and unpaid interest under the affected debt instruments had automatically become immediately due and payable. The events of default and the resulting acceleration of the affected debt instruments may have a material adverse effect on the group's financial position. However, as of now, the group has not received any notice or demand for immediate repayment regarding the affected debt instruments. It intends to vigorously oppose the petition and is seeking legal and financial advice on the implications of the petition and response measures.(gc/da)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |