Brief: Kaisa Group Updates On Debt Restructuring

Kaisa group

17/10/2023 15:36

Oct 17 (Reuters) - Kaisa Group Holdings Ltd  1638.HK :
    * UPDATE ON DEBT RESTRUCTURING
    * BEEN COMMUNICATING AND CONSTRUCTIVELY ENGAGING WITH
CERTAIN
HOLDERS OF SENIOR NOTES AND OTHER OFFSHORE DEBTS ISSUED
    * SENIOR NOTES AND OTHER OFFSHORE DEBTS ISSUED BY GROUP WITH
AN
AGGREGATE PRINCIPAL AMOUNT OF APPROXIMATELY US$12.3 BILLION
    * PROPOSED TO AHG A PRELIMINARY INDICATIVE PROPOSAL IN
RESPECT OF
GROUP'S OFFSHORE INDEBTEDNESS
    * STILL IN NEGOTIATIONS WITH AHG AND NO AGREEMENT ON TERMS
OF
RESTRUCTURING ENTERED
    * AS OF 31 DEC 2022, ONSHORE INTEREST-BEARING LIABILITIES OF
ABOUT
RMB50.6 BILLION
    * COMPANY AND AHG WILL CONTINUE CONSTRUCTIVE DIALOGUE WITH
VIEW TO
FINALIZING TERMS OF RESTRUCTURING PROPOSAL AS SOON AS
PRACTICABLE


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