China Ocean Group: No advance payment has been made for the $3.8 million Interest due on October 26th.

Jinshi data news on October 15th, Ocean Group announced on the morning of October 15th, Hong Kong Stock Exchange that the company did not make a pre-funding payment for the $3.8 million semi-annual Interest due on October 26, 2024, in accordance with the provisions of the 3.80% green notes due in 2025. The trustee under the notes has the right to draw on standby letters of credit to fulfill the issuer’s obligations as the issuer and the company’s obligations as the guarantor of the notes. In addition, the restructuring is being implemented in an orderly manner, and the hearing on the convening of the UK restructuring plan will be held as scheduled on October 18, 2024, in the High Court of England and Wales (the English court), when an order will be sought from the English court to convene a meeting of creditors within the scope of the plan to consider and, if appropriate, approve (with or without modifications) the UK restructuring plan.