Sino Grandness

[fattboy]

Keep extending the bond payment....doesn't it sound familiar? GREXIT?

There is a difference between the two.

Greece, the party that owes the money, asked for extension.

Sino Grandness did not request bondholders to extend the bonds. If the request was made by Sino instead, bondholders in all likelihood would want this fact to be clearly stated.

Sino Grandness Announcement on 26 Jun 2015 ".., the Board of Directors of Sino Grandness Food Industry Group Limited (the “Company”) wishes to announce that Bondholders holding RMB80,500,000 in principal amount of the Convertible Bonds have notified the Company of their intention to extend the Maturity Date of the Convertible Bonds from 30 June 2015 to 25 July 2015."

I havent seen the bond conventant , but there should be nothing stopping the company from paying the bond holders at maturity date.........request or not

I am still wondering..........

Bro , wonder no more.

If you pull back the previous pages in this thread, spend some effort in reading the scenario case study of this extension, you will understand the whole happenings.
Alternatively , you may access the latest Nextinsight link below to clarified your doubts : (posted on 30th June 2015)


http://www.nextinsight.net/index.php/sto...sion-imply



Spend sometime in reading and clarifying your understanding with us.