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LOGAN GROUP Reaches Agreement with Creditors on Term Sheet of Holistic Restructuring Proposal for Offshore Debt w/ Total Outstanding Amt US$8B+
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LOGAN GROUP (03380.HK) has reached an agreement with certain of its Offshore Creditors in respect of the Term Sheet in relation to the holistic restructuring proposal in respect of the Offshore Debt, according to LOGAN GROUP's announcement. The holistic restructuring proposal aims to relieve the Company's debt burden, restore its capital structure, promote a healthy cycle of production and operational activities within the Company, thereby unlocking the potential value of its assets for the benefit of its stakeholders. The aggregate outstanding principal amount of the Company's total offshore indebtedness is currently approx. US$8.038 billion, out of which the holistic restructuring proposal will involve approx. US$7.562 billion of the offshore debts of the Company and its applicable subsidiaries. The Company also intended to restructure the Additional Offshore Debt of approx. US$476 million. AAStocks Financial News |
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