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COUNTRY GARDEN Restructuring Proposal Gains Support from 29.9% of Existing Debt Holders
Recommend 29 Positive 58 Negative 13 |
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COUNTRY GARDEN (02007.HK) announced that it has agreed on the principal terms of a restructuring proposal with the AHG, representing 29.9% in aggregate principal amount of the existing bond debts and members of the AHG have entered into a restructuring support agreement (RSA). The company is also close to finalizing negotiations with certain members of the CoCom and, upon finalization of the negotiations, such members will go through internal procedures to obtain the relevant approvals to execute the RSA. The announcement also mentioned that the scope of the proposed restructuring covers the existing debt with an aggregate outstanding principal amount of around US$14.074 billion, together with all accrued and unpaid interest in respect of such outstanding principal. AAStocks Financial News |
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