Hsin Chong Group Holdings Limited announced that $300 million 8.75% senior notes due 2018 issued by the company fell due for redemption on 18 May 2018. The company has not paid the amounts outstanding under the 2018 Notes to the account of the trustee of the 2018 Notes. This has resulted in an event of default under the $150 million 8.50% senior notes due 2019 issued by the company. The Payment Default has also resulted in cross-defaults under certain of the loan agreements to which the company and/or its subsidiaries are party. The Company recently met with certain holders of the Notes and their advisors to discuss a potential consensual restructuring of the Notes. The Company anticipates continuing this dialogue and holders of the Notes that are not presently in contact with Company are invited to contact its financial advisor, Moelis & Company.