Core Viewpoint - The company, Road King Infrastructure Limited, has announced a suspension of payments on all offshore bank debts, notes, and perpetual securities, indicating a significant financial distress situation [2][3]. Group 1: Debt Situation - As of the announcement, the total offshore debt of the company is approximately $1.51 billion, with unpaid interest totaling around $22.62 million [2]. - The company holds perpetual bonds amounting to about $890.5 million and deferred distributions of approximately $56.46 million [2]. - The default is not an unexpected event, as the company's offshore bonds had already matured on July 12, 2025, and it has a 30-day grace period following the default [2]. Group 2: Debt Restructuring - The recent default marks a new default after the company's debt extension, where it had previously announced the successful tender of five dollar bonds totaling approximately $49.6 million [3]. - The company has initiated a comprehensive restructuring process, emphasizing fair treatment of creditors and adherence to international and Hong Kong debt handling standards [3]. - The restructuring plan prioritizes using proceeds from the sale of specified assets to cover restructuring costs rather than for forced redemption of notes or perpetual securities [3].
“港资房企”路劲4.35亿美元债违约，暂停支付所有离岸债务 ｜ 快讯