Key points of 20 Yongmei scp004 holder meeting: the interest has been paid to the supreme clearing house

category:Finance
 Key points of 20 Yongmei scp004 holder meeting: the interest has been paid to the supreme clearing house


It is estimated that by March next year, the company will raise about 10 billion yuan through cash realization and capital injection, so as to solve the problem of liquidity difficulties. According to the relevant person in charge of Henan Energy Chemical Co., Ltd., the 20% equity of Pingmei Shenma Group is held by SASAC (65%), which can be directly injected into Henan energy free of charge, and Henan energy is financed through the pledge of financial institutions in the province.

The relevant person in charge of Henan energy chemical said that the debt rollover is an important part of resolving the crisis. If the rollover can not be reached, resulting in cross default, and more than 10 billion bonds mature, the subsequent liquidity pressure will be greater, and the rollover is also beneficial to investors.

The meeting also made clear the extension plan of the follow-up debt: the bond maturity within one year shall be extended according to the scheme of no more than 1 year, the period of 3 years shall be extended according to the time not exceeding 1.5 years, and the extension of more than 3 years shall not exceed 3 years. The payment ratio of the later periods is less than or equal to 50%, and the principal will be paid within 2 working days after the signing of the extension agreement. In addition, the bank should pay the interest due normally, pay part of the principal, and coordinate with the bank to renew the loan. The non-standard is also a similar idea.

The relevant person in charge also said that Yongmei has stripped off the chemical business, but Yuneng chemical still has chemical business. After that, with the improvement of the chemical industry, the funds lent by major shareholders to chemical enterprises can be recovered gradually. At present, the government is responsible for the debt repayment.

The relevant person in charge of the state owned assets supervision and Administration Commission of Henan Province said: first, the early support scheme of the state owned assets supervision and Administration Commission of Henan Province will continue to promote, and the most important task at present is to help enterprises restore liquidity; second, unswervingly promote the debt resolution and enterprise reform of Henan energy and its affiliated enterprises.

As of the end of October, Yongmei Group had a total assets of 171.1 billion yuan, a total net assets of 38.3 billion yuan, and more than 35000 employees. It is natural for us to repay debts. We have never thought of not paying debts. We will fully implement the spirit of the financial committee meeting. Yong coal related person in charge said again.

20 Yongcheng Coal scp004 is issued by Yongcheng Coal and power holding group company. Data show that the maturity of 20 Yongmei scp004 is 0.74 years, the coupon rate is 4.35%, the issuance scale is 1 billion, and the maturity date is November 22 (postponed to November 23 at the weekend).

On the maturity date, the holder does not receive the principal and interest of the bond, which means that the bond has constituted a substantial default, and the default of the bond has triggered the agreement of cross protection clause. According to the provisions of the prospectus, there is a grace period of 10 working days, within which the debt repayment can be exempted from cross default. In other words, if the principal cannot be cashed or the extension agreement can be reached before December 7, the cross default of Yongmei and Yuneng chemical bonds will be triggered, and the maturity of more than 20 billion bonds will be accelerated. On November 30, Yongmei announced that the shareholders meeting to be held on December 1 was to discuss the extension proposal: the issuer first cashed 50% of the principal of 20 Yongmei scp004, and the remaining principal was extended. The extension period was consistent with the original term of the bond, the interest rate remained unchanged during the extension period, the principal and interest were paid at one time when due, and the default of the current bond was exempted. Source: Yang Bin, editor in charge of economic report in the 21st century_ NF4368

On the maturity date, the holder does not receive the principal and interest of the bond, which means that the bond has constituted a substantial default, and the default of the bond has triggered the agreement of cross protection clause. According to the provisions of the prospectus, there is a grace period of 10 working days, within which the debt repayment can be exempted from cross default. In other words, if the principal cannot be cashed or the extension agreement can be reached before December 7, the cross default of Yongmei and Yuneng chemical bonds will be triggered, and the maturity of more than 20 billion bonds will be accelerated.

On November 30, Yongmei announced that the shareholders meeting to be held on December 1 was to discuss the extension proposal: the issuer first cashed 50% of the principal of 20 Yongmei scp004, and the remaining principal was extended. The extension period was consistent with the original term of the bond, the interest rate remained unchanged during the extension period, the principal and interest were paid at one time when due, and the default of the current bond was exempted.