China South City Gets Winding-Up Petition Filed by Citicorp

China South City says a winding-up petition was filed by Citicorp International at the High Court in Hong Kong against the company, according to an HKEX filing.

• Petition is linked to the non-payment of about $306m relating to the 9% senior notes due April 2024 issued by the company
• First hearing date for the petition to be held on April 2
• Says it will oppose the petition vigorously and proactively work with its offshore creditors on restructuring plan

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