Logan Group Gets 80.8% Creditor Support for Holistic Restructuring Proposal

MT Newswires Live

02/28

Logan Group (HKG:3380) said creditors holding 80.8% of its $6.2 billion offshore debt have acceded to the holistic creditor support agreement (Holistic CSA) signed with the Ad Hoc Group as of Thursday, according to a same-day filing with the Hong Kong bourse.

The general credit support agreement expired Thursday. The company said it will implement the holistic restructuring proposal as soon as possible and it continues to invite offshore creditors to accede to the Holistic CSA.

The property developer's share prices were down nearly 2% in recent trading.

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