Brief: Shimao Group Provides Update In Relation To Restructuring Of Offshore Debt
02/10/2024 14:46
Oct 2 (Reuters) - Shimao Group Holdings Ltd 0813.HK :
* UPDATE IN RELATION TO THE RESTRUCTURING OF OFFSHORE DEBT
* DECIDED TO FURTHER AMEND TRANSACTION TERM SHEET
* OF VIEW THAT AMENDMENTS REFLECTED IN AMENDED TERM SHEET
ARE
BENEFICIAL TO SCHEME CREDITORS
* CERTAIN CONTROLLING SHAREHOLDERS WILL UNDERTAKE THEY WILL
NOT
VOLUNTARILY SELL CO'S CAPITAL STOCK UNLESS NET PROCEEDS FROM
SUCH SALE USED FOR CERTAIN PURPOSES
* CERTAIN HOLDERS OF EXISTING NOTES, WHO ARE MEMBERS OF AN
AD HOC
GROUP OF OFFSHORE CREDITORS AGREED IN PRINCIPLE TO PROPOSAL
Further company coverage: 0813.HK
((Reuters.Briefs@thomsonreuters.com;))
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