On January 29, it was announced that due to the great pressure on the issuer’s recent debt repayment fund-raising, “21 Yango Group Co.Ltd(000671) mtn001″ held a holders’ meeting on January 26, 2022 and failed to pass the proposal on interest extension. By the end of January 29, 2022, the issuer had failed to raise sufficient repayment funds as agreed. Therefore, the interest cannot be paid on the current medium-term note on schedule, and there is no partial interest payment arrangement for the current medium-term note.
The medium-term note sets a grace period of 5 working days. If the issuer repaid the interest payable in full within this period, it will not constitute the issuer’s breach of contract under the medium-term note. The issuer will actively take various measures to raise funds and strive to pay the interest of the current medium-term note to the holder within the grace period.
The remaining scale of “21 Yango Group Co.Ltd(000671) mtn001″ is 580 million yuan, the coupon rate is 6.92%, and the term is 4 years (2 + 2). The current interest payment date is January 29, 2022, and the amount of interest payable is 40.136 million yuan.
