Sichuan Languang Development Co.Ltd(600466) (hereinafter referred to as ” Sichuan Languang Development Co.Ltd(600466) “) announced on the 7th that “20 Blu ray cp001” had previously defaulted. At present, with the cooperation of professional intermediaries, the company has completed the mapping of the base number of assets and liabilities, forming the prototype of risk resolution plan.
Statistics show that the issuance scale of “20 Blu ray cp001” is 700 million yuan, with a coupon of 6.50%. On July 29, 2021, Shanghai clearing house did not receive the principal and interest payment funds of “20 Blu ray cp001” at the end of the payment date, and the bonds constituted a material breach of contract.
On January 28, 2022, China International Capital Corporation Limited(601995) and Bohai bank, as conveners, held the first holders’ meeting in 2022. At this meeting, the issuer reported on the progress of debt resolution in 2021, Sichuan Languang Development Co.Ltd(600466) gradually promoted risk resolution in accordance with the overall idea of “short-term stability and relief, medium-term stable settlement and long-term transformation and development”. With the cooperation of professional intermediaries, the issuer has completed the mapping of the base of assets and liabilities, forming the prototype of risk resolution plan.
Sichuan Languang Development Co.Ltd(600466) said that on the premise of adhering to the voluntary principle, it is planned to accelerate the expansion of the debt Committee and establish a national debt Committee, gradually negotiate and communicate with different types of creditors on the overall Party of risk resolution, solicit the opinions of creditors in groups according to the debt category, and further refine the scheme under the guidance of provincial and municipal governments, CBRC, CSRC and other financial regulatory institutions, In accordance with the principles of marketization and legalization, strive for more creditors to participate in the polishing and implementation of the reorganization plan. After the meeting, the lead underwriter actively handled the matters discussed at the meeting, confirmed all matters of the meeting proposal with the issuer, and urged the issuer to implement it.
As of December 31, 2021, Sichuan Languang Development Co.Ltd(600466) the total amount of principal and interest of the debt due and outstanding totaled 27.739 billion yuan (including bank loans, trust loans, debt financing instruments and other debt forms). At present, the issuer is actively coordinating solutions with the above-mentioned financial institutions.
The announcement said that the follow-up lead underwriter will continue to urge the issuer to disclose information on major matters to bondholders in a timely, complete and accurate manner in strict accordance with the information disclosure rules of non-financial enterprise debt financing instruments in the inter-bank bond market. The lead underwriter will continue to urge the issuer to formulate and promote the repayment plan as soon as possible and implement the repayment funds.
