by Amruth Sundarkumar | Sep 14, 2022 | China, Corporates, Distressed / Defaulted Bonds
Tus Holdings has scrapped the consent solicitation (Term of the Day, explained below) that it launched in August for two of its dollar bonds on which it missed payments. The two bonds in question are its $308mn 7.95% 2024s and $522.5mn 6.95% 2024s guaranteed by...
by Amruth Sundarkumar | Aug 26, 2022 | China, Corporates, Distressed / Defaulted Bonds
A bondholder group in Tuspark Forward’s bonds plans to reject the company’s second payment extension proposal, as per Bloomberg. This week, Tuspark launched a consent solicitation for two of its dollar bonds on which it missed payments in August. The bondholder...
by Amruth Sundarkumar | Aug 25, 2022 | China, Corporates, Distressed / Defaulted Bonds
Tuspark Forward (issuer of Tus-Holdings’ bonds) launched a consent solicitation for two of its dollar bonds on which it missed payments in August. These bonds are its $308mn 7.95% May 2024s and $522.5mn 6.95% May 2024s guaranteed by Tus-Holdings. The bonds...
by Amruth Sundarkumar | Aug 17, 2021 | China, Distressed / Defaulted Bonds
Holders of Tuspark’s dollar bonds guaranteed by Tus-Holdings overwhelmingly approved the debt extension plan for the cross-defaults on their bonds. Tus-Holdings said 100% and 99.95% of the total votes cast by eligible bondholders of the $400mn 7.95% 2021s and $550mn...
by Amruth Sundarkumar | Jun 21, 2021 | China, High Yield Bonds
Tuspark’s dollar bonds slid after the company failed to pay the coupon on its 6.95% 2022s last Friday. An investigative agency noted that the bond’s trustee had told holders that it had not received the coupon payment, with the company now having a 7-day grace period...
