On January 27th, Longguang Group Hong Kong released an announcement on the latest progress of overall debt restructuring on the Stock Exchange, stating that after entering into an overall CSA with the creditor group on January 10th, it has received strong support from overseas creditors for the overall restructuring plan in just two weeks. As of January 27th, holding a total principal of $6.207 billion of the company’s “overseas debt” (including existing notes, equity linked securities (ELS), existing loans, and structured financing and secured debt), over 66% of the agreed creditors have joined the overall CSA.
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