Chinese developer Modern Land ends process to change bond terms

Reuters2021-10-21

SHANGHAI, Oct 21 (Reuters) - Chinese property developer Modern Land (China) Co said late on Wednesday it had ended an attempt to seek bondholder approval to change the terms of its 12.85% senior notes due 2021, citing liquidity issues.

In a filing to the Singapore Exchange, Modern Land said it had determined the "consent solicitation", which would extend the maturity date of a dollar bond due on Oct. 25, was not in the best interest of the company and its stakeholders.

(Reporting by Andrew Galbraith; Editing by Jacqueline Wong)

((Andrew.Galbraith@tr.com; +86 21 2083 0079; Reuters Messaging: andrew.galbraith.thomsonreuters.com@reuters.net ; Twitter: ))

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