Hospital Corp (3869) seeks bond maturity extension

Hospital Corporation of China Limited (HKEX:3869) is seeking shareholder approval to extend the maturity dates of two significant convertible bond issuances. The proposal involves extending the maturity of HKD468,000,000 Vanguard Glory Convertible Bonds and HKD773,879,717 Hony Fund VIII Convertible Bonds from September 30, 2025, to September 30, 2027. Directors believe that this extension will allow the Company to postpone a substantial cash outflow and provide more financial flexibility for business operations and development. An Extraordinary General Meeting (EGM) has been scheduled for June 30, 2025, for independent shareholders to vote on the proposed extensions and grant specific mandates related to the bond conversions. The independent financial advisor, Alliance Capital Partners Limited, considers the proposed terms fair and reasonable.