Road King Infrastructure's (HKG:1098) consent solicitation for amendments and waivers on five series of senior notes did not secure the requisite approval for all series, according to a Friday Hong Kong bourse filing.
The consent solicitation covered five series of notes, including 6.7% due March 2028, 5.9% due September 2028, 6.0% due March 2029, 5.2% due July 2029, and 5.125% due January 2030.
While holders representing a majority of the aggregate outstanding principal across the notes voted in favor, the consent conditions were not met.
As a result, the company will not table the proposed resolutions in their current form and will unblock all notes previously restricted for voting.
Since the amendments have not taken effect, the issuer is unable to apply specified asset proceeds to pay interest on its 5.2% guaranteed senior notes due July 2029, as the coupon has come due on July 12.