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CIFI Holdings (Group) Co. Ltd - Debt Restructuring - News

CIFI HOLDINGS (GROUP) CO. LTD - UPDATE ON THE HOLISTIC SOLUTION FOR OFFSHORE LIQUIDITY SITUATION AND BUSINESS DEVELOPMENT

29 APRIL 2024


Full announcement including disclaimers and offer restrictions available via Hong Kong Exchanges and Clearing Limited


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Over the past few months, the Co-ordination Committee, the AHG and their advisors have worked closely with the Company and its advisors to negotiate the economic terms of the holistic solution. The Company and its offshore advisors have considered the feedback received from the Co-ordination Committee and the AHG, the prevailing market conditions and the Group’s latest business performance and delivered to the Coordination Committee, the AHG and their advisors, revised proposals on the economic terms of the holistic solution.

The Company is pleased to announce that it has reached an agreement in principle with the AHG on the key terms of a holistic proposal (the “Proposal”). Based on the information currently available to the Company, the holders forming the AHG collectively hold or control approximately 43% in aggregate of the principal amount of the Company’s senior notes, perpetual securities and the convertible bonds. This is a significant milestone for the Company in its implementation of the proposal and the Company would like to express its gratitude to the Co-ordination Committee, the AHG, and their advisors for their continuing support and engagement in the Company’s ongoing process."


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