Brief: China Aoyuan Engaged In Discussions With Creditors On Terms Of Proposed Standstill Arrangement

China Aoyuan

28/02/2023 14:35

Feb 28 (Reuters) - China Aoyuan Group Ltd  3883.HK :
    * ENGAGED IN CONSTRUCTIVE DISCUSSIONS WITH GROUP'S MAJOR
OFFSHORE
CREDITORS ON TERMS OF PROPOSED STANDSTILL ARRANGEMENT
    * AD HOC GROUP OF HOLDERS OF SOME OFFSHORE SENIOR NOTES GAVE
IN-PRINCIPLE AGREEMENT IN WRITING REGARDING NON-LEGALLY BINDING
TERM SHEET
    * PROPOSED STANDSTILL ARRANGEMENT SEEKS TO ACHIEVE
OBJECTIVES
INCLUDING PROVIDING STABILITY TO OFFSHORE OPERATIONS OF GROUP
    * IN DISCUSSIONS WITH OTHER MAJOR OFFSHORE CREDITORS
REGARDING
SEPARATE STANDSTILL ARRANGEMENTS REGARIDNG OTHER OFFSHORE DEBT
INSTRUMENTS
    * DURING STANDSTILL PERIOD, CONSENTING CREDITORS TO
STANDSTILL &
FORBEAR FROM TAKING ENFORCEMENT ACTION REGARDING OFFSHORE
INDEBTEDNESS
    * TRADING IN SHARES OF CO WILL CONTINUE TO BE SUSPENDED
UNTIL
FURTHER NOTICE

Further company coverage:  3883.HK 

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