Hong Kong Airlines said that it will defer a coupon payment on its $683mn 15.758% Perp yet again. The company, part of the struggling part HNA Group has been deferring coupons since July 2020 on the Perp issued by Blue Skyview. The note is guaranteed by Hong Kong Airlines International Holdings, HKA Group and Hong Kong Airlines. The company will continue to defer the accumulated coupons, and the coupon payment on its due date on January 26. The company gained approval from Hong Kong courts and the UK a part of a plan to restructure its HKD 49bn ($6.3bn) debt. There is no further update on its restructuring progress. The restructuring of the perp is expected on or before 31 March 2023.
Its 15.758% Perp was trading flat at 22.75.
