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Original title: Yongmei holds a meeting of the owners tonight, intends to repay 50% of the principal
Yongcheng Coal and Electricity Holding Group Co., Ltd. (hereinafter referred to as “Yongcheng Coal and Electricity” or “Issuer”) intends to hold the first meeting of 2020 holders of the third phase of very short-term financing obligations in 2020 on November 23 2020 Below is the relevant information on the shareholders’ meeting and the summary of the proposal
Content of the proposal:
Proposal 1: Proposal to agree on the adjustment of the procedures for the bondholders’ meeting.
In view of the urgency of the issues proposed for this very short-term financial instrument holders meeting, the very short-term financial instrument holders’ meeting is expressly requested to agree on a shortening of the meeting time frame.
Proposal 2: a proposal to accept the issuer to repay 50% of the principal early, with the remaining principal renewed for 270 days, the interest rate during the renewal period will remain unchanged, the principal and interest will be repaid in one the only solution at maturity and the proposal to exempt the current bond default.
If this proposal is approved, the issuer will prepay 50% of the principal of the very short-term financing invoices and the remaining principal will be deferred.
Conference background
Due to the issuer’s limited liquidity, at the end of November 10, 2020, the issuer was unable to repay the principal and interest of “20 Yongmei SCP003” in full and on schedule, which constituted a substantial default. In accordance with the relevant provisions of “Yongcheng Coal and Electricity Holding Group Co., Ltd. 2020 Third Phase of the Prospectus of Very Short Term Financing Obligations”, “Debt Financing Instrument Holders Meeting Procedures for Non-Financial Enterprises of the interbank bond market “, and at the same time, it should be clearly requested by the issuer, Request the shortening of the procedures for holding the meetings of the holders and the extension of part of the principal of the bond,Everbright BankHe Zhongyuan Bank, as a summoner, intends to organize the first meeting of the holders of the third phase of Yongcheng Coal and Electricity Holding Group Co., Ltd. very short-term financing obligations in 2020 to discuss and vote on the “About Yongcheng Coal and Electricity Holding Group Co., Ltd. 2020 Proposals for the first meeting of the holders of the third phase of the very short-term financing projects in 2020. “
Basic situation of the present obligation
1. Issuer: Yongcheng Coal and Electricity Holding Group Co., Ltd.
2.Bond Name: The 2020 third phase of Yongcheng Coal and Electricity Holding Group Co., Ltd.’s very short-term financing obligations
3. Bond abbreviation: 20 Yongmei SCP003
4. Bond code: 012000356
5.Total issue: 1 billion yuan
6. Interest rate on bonds of this interest-bearing period: 4.39%
7. Bonds maturity: 270 days
8. Subject classification: BB
9.Date of repayment of principal and interest of the current period: 10 November 2020
10. Main Unitholders: China Everbright Bank Co., Ltd. (hereinafter “China Everbright Bank”), Zhongyuan Bank Co., Ltd. (hereinafter “Central Plains Bank”)
Elements of encounter
1. Conference Caller: Everbright Bank, Zhongyuan Bank
2. Meeting format: combination of on-site and off-site methods
3. Meeting time: 19: 00-20: 00 on the evening of 23 November 2020
4. Conference venue: Earl International Hotel, Zhengzhou City, 21 Jinshui East Road, Jinshui District, Zhengzhou City, Henan Province
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Responsible editor: Xue Yongwei
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