BRIEF-KWG Group Reached Agreement In Principle On Key Terms Of Holistic Restructuring Proposal

Reuters
Yesterday
BRIEF-KWG Group Reached Agreement In Principle On Key Terms Of Holistic Restructuring Proposal

Feb 23 (Reuters) - KWG Group Holdings Ltd 1813.HK:

  • REACHED AN AGREEMENT IN PRINCIPLE WITH AHG ON KEY TERMS OF A HOLISTIC RESTRUCTURING PROPOSAL

  • INTENDS TO IMPLEMENT RESTRUCTURING THROUGH A SCHEME OF ARRANGEMENT IN HONG KONG

  • RESTRUCTURING PROPOSAL ADDRESSES COMPANY'S OFFSHORE INDEBTEDNESS UNDER US$3.95 BILLION SENIOR NOTES, OTHERS

  • ALC NOTES MAXIMUM IN PRINCIPAL AMOUNT OF US$400.2 MILLION WILL BE ISSUED BY SPECIAL PURPOSE VEHICLE OWNED BY CO

  • CHAIRMAN AND/OR HIS FAMILY MEMBER$(S)$ WILL PROVIDE NEW MONEY INJECTION UP TO US$10 MILLION

Further company coverage: 1813.HK

((Reuters.Briefs@thomsonreuters.com;))

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