STOCKS | Lai Sun Development Completes Exchange Offer for 5% 2026 Guaranteed USD Notes

Lai Sun Development (0488) said it has completed an exchange offer and consent solicitation for its 5% guaranteed U.S. dollar notes due 2026, according to Ming Pao. The company said that as the sale of a 50% interest in the CCB Tower in Central has been reached, eligible holders who validly tendered and had their existing notes accepted for exchange will receive, per $1,000 principal amount of existing notes, exchange consideration of $300 in cash and $700 principal amount of new notes on the settlement date.