BREAKING: Dalian Wanda Commercial Management Engages Deutsche Bank as Advisor for Potential LME on $400M 11% Due 2025 Notes

Dalian Wanda Commercial Management Group Co. Ltd. has engaged Deutsche Bank as advisor for a potential liability management exercise, or LME, for its $400 million 11% notes due Jan. 20, 2025, according to five sources familiar with the matter. The company is in talks with certain large creditors on the terms of a potential LME, said two of the sources. Deutsche Bank was the sole solicitation agent for the company’s consent solicitation in 2023 for its $600 million 7.25% notes, which were successfully extended by 11 months to Dec. 29, 2024. The $400 million 11% due 2025 notes were indicated around 84/ 86 today, Nov. 20, and have dropped from 88/ 89 at the end of last week, according to two buysiders. Dalian Wanda could not be reached for immediate comment. Deutsche Bank declined to comment.