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<CN Home>CIFI HOLD GP Reportedly Unveils RMB10B Corporate Bond Restructuring Plan, Extending Debt for 9.5 Yrs
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CIFI HOLD GP (00884.HK) will hold an online creditors' meeting for its seven corporate bonds to review the bond restructuring proposal, The Paper quoted sources as saying. The proposal involves adjustments to credit enhancement measures and offers alternative restructuring options, including bond buyback option, CIFI HOLD GP equity economic income right option, option of settling debt via assets and general creditor claim option. If bondholders do not choose any of the above options, they will enter the plan of full-amount long-term debt extension. The seven corporate bonds include PR CIFI 01, H20 CIFI 2, PR CIFI 03, H21 CIFI 1, H21 CIFI 2, H21 CIFI 3 and H22 CIFI 1, etc., with a principal amount of approx. RMB10.06095 billion, representing all outstanding corporate bonds of CIFI HOLD GP. The plan of full-amount long-term debt extension will extend the term by 9.5 years, with interest reduced to 1%, i.e., the repayment period for the outstanding principal of the existing corporate bonds is adjusted to 9.5 years from 18 July 2025, with the maturity date adjusted to 18 January 2035. CIFI HOLD GP last printed at $0.236, down 2.88%, with 10.752 million shares traded, involving $2.5487 million. AASTOCKS Financial News Website: www.aastocks.com |
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