Tue 03/21/2023 03:58 AM
Sino-Ocean Group has decided to defer the coupon payment due today, March 21, under its $600 million 6.876% perpetual securities, according to two sources familiar with the matter and confirmation from a company spokesperson.
The perp was issued by Sino-Ocean Land Treasure III LTD while guaranteed by Sino Ocean Group.
The company noted that the deferred coupon payment does not represent any default as coupon payments under perpetals can be deferred according to the issuance terms.
Sino-Ocean...
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