On April 12, Yango Group Co.Ltd(000671) announced that the "20 Yangcheng 01" and other bonds held a meeting of bondholders, deliberated and approved some proposals such as measures to increase the credit of some bonds.
On April 11, First Capital Securities Co.Ltd(002797) securities underwriting and recommendation Co., Ltd. (hereinafter referred to as "Yichuang investment bank", "meeting convener" or "bond trustee") held the first bondholder meeting of "20 Yangcheng 01", "20 Yangcheng 02", "20 Yangcheng 03", "20 Yangcheng 04", "21 Yangcheng 02" in 2022 and the second bondholder meeting of "21 Yangcheng 01" in 2022 as the convener.
Previously, Yango Group Co.Ltd(000671) more than medium-term notes failed to be paid in full on schedule.
Bondholders believe that there is some uncertainty in the timely payment of principal and interest of "20 Yangcheng 01", "20 Yangcheng 02", "20 Yangcheng 03", "20 Yangcheng 04", "21 Yangcheng 01" and "21 Yangcheng 02". In order to protect the legitimate rights and interests of the bondholders, the bondholders require the issuer to issue a written commitment not to evade or abolish the bonds. In case of failure to pay the principal and interest of the bonds on schedule or failure to pay the principal and interest of the bonds on schedule at maturity, they shall timely formulate a reasonable debt repayment plan and scheme for the consideration of the bondholders, strictly implement and implement the debt repayment plan and scheme, and provide additional guarantee for the corresponding bonds, including but not limited to the guarantee of mortgaged and pledged property Third party guarantee, etc.
According to the announcement, five proposals were discussed at the meeting, including requiring Yango Group Co.Ltd(000671) to issue a written commitment not to evade or abolish debts for "20 Yangcheng 01", "20 Yangcheng 02", "20 Yangcheng 03", "20 Yangcheng 04", "21 Yangcheng 01" and "21 Yangcheng 02", formulate a reasonable debt repayment plan and strictly implement it, and increase credit enhancement measures.
At this meeting, some proposals were voted through.
