Road King Infrastructure (HKG:1098) said it has launched consent solicitations for amendments and waivers to five series of its guaranteed senior notes maturing between 2028 and 2030, according to a Friday Hong Kong bourse filing.
The proposed amendments include changing interest payments for one year starting in mid-2025 to payment-in-kind interest instead of cash. The affected notes are the 6.7% March 2028 notes, 5.9% September 2028 notes, 6.0% March 2029 notes, 5.2% July 2029 notes, and 5.125% January 2030 notes.
The company also seeks waivers for potential defaults arising from these changes and the use of proceeds from designated asset sales to meet related expenses and interest payments.
Road King said the proposals aim to ease short-term liquidity pressure and buy time to complete the disposal of key assets. Meetings for noteholders to vote on the resolutions are scheduled, the company added.
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