ASIA-PACIFIC

摘要

China oriental croup has increased the incentive for bondholders to tender their US dollar 7% 2017 senior notes. It had offered US$985 per US$1,000 in principal amount to bondholders that tendered by the early-bird deadline of February 5 and US$935 to those that tendered after that, but by February 22. It has now offered to pay the early-bird amount to all filing tenders on or before the offer's expiry date. The iron and steel manufacturer is also seeking consent to remove some restrictive covenants on the notes and modify certain events of default. Previously, the group said that anyone tendering their notes would be deemed to have consented to the changes, but it was now offering a payment of US$2.50 per US$1,000 in principal amount to bondholders that agree to the amendments, but do not want to tender their notes.