SG debt listings Friday: Datang Group

U.S. one-dollar currency notes; taken September 2018.U.S. one-dollar currency notes; taken September 2018.

These are entities which announced debt listing confirmations in Singapore on Friday, 3 June 2022: Datang Group.

Datang Group

Datang Group said Friday its US$283,950,000 12.5 percent senior notes due 2023 (ISIN code: XS2483266115) would be listed on SGX’s bond market on Monday.

The notes, which will trade in U.S. dollars, will be in denomination of US$150,000, which is also the minimum board lot size, the company said in a filing to SGX.

Datang Group is a Hong Kong-listed China commercial and residential property developer.

On 1 June, the company said it exchanged US$283.95 million of its existing senior notes due 2022 for the 2023 notes. That left US$16.05 million of the existing notes remaining, the company said in a filing to HKEx.

“The company does not expect to be in a position to make timely repayments in accordance with the terms of the remaining existing notes upon their maturities,” Datang Group said. “Despite the completion of the exchange offer, the company urges holders of the remaining existing notes to exchange the remaining existing notes for the new notes under substantially the same terms as those of the exchange offer.”