Yuan Heng Gas Secures HK$20 Million Strategic Loan Amid Debt Restructuring Efforts
Reuters
Nov 28
Yuan Heng Gas Secures HK$20 Million Strategic Loan Amid Debt Restructuring Efforts
Yuan Heng Gas Holdings Ltd. has signed a financing agreement with a potential strategic investor, under which the investor has agreed to provide an unsecured, interest-free loan of up to HK$20 million with no fixed repayment date to support the company's restructuring efforts. The company has also applied to the High Court of Hong Kong to convene a meeting of its creditors to approve a proposed scheme of arrangement, with the initial hearing having been adjourned sine die. Yuan Heng Gas Holdings Ltd. is working closely with professional advisers to restore the hearing as soon as possible and will make further announcements when appropriate.
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