KWG Reaches In-Principle Deal With Ad Hoc Group on Offshore Debt Restructuring

Reuters

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KWG Reaches In-Principle Deal With Ad Hoc Group on Offshore Debt Restructuring

KWG Group Holdings Limited said today (23 February 2026) it has reached an agreement in principle with an ad hoc group of offshore creditors on key terms of a holistic offshore debt restructuring proposal, with the group collectively holding or controlling over 25.8% of in-scope debts. The company plans to implement the restructuring primarily through a Hong Kong scheme of arrangement and outlined two creditor options involving a mix of cash, zero-coupon exchangeable notes linked to its Ap Lei Chau project, and zero-coupon mandatory convertible bonds convertible into new shares at HK$1.55, alongside a rights issue and up to US$10 million of new money support from the chairman and/or family members. KWG cautioned that definitive terms and documentation are still being negotiated and no legally binding agreement has been signed.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. KWG Group Holdings Limited published the original content used to generate this news brief via IIS, the Issuer Information Service operated by the Hong Kong Stock Exchange (HKex) (Ref. ID: HKEX-EPS-20260223-12028041), on February 23, 2026, and is solely responsible for the information contained therein.

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The company plans to implement the restructuring primarily through a Hong Kong scheme of arrangement and outlined two creditor options involving a mix of cash, zero-coupon exchangeable notes linked to its Ap Lei Chau project, and zero-coupon mandatory convertible bonds convertible into new shares at HK$1.55, alongside a rights issue and up to US$10 million of new money support from the chairman and/or family members. KWG cautioned that definitive terms and documentation are still being negotiated and no legally binding agreement has been signed.\n      \n\n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. 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