Yuzhou Group (01628) announced general restructuring support at 5:00 p.m. on March 28, 2024, Hong Kong time...
According to Zhitong Finance App News, Yuzhou Group (01628) announced that after the general restructuring support agreement fee period on March 28, 2024 at 5:00 p.m. Hong Kong time, the share of existing note holders: (a) existing note holders, which account for about 93.16% of the total outstanding principal amount of existing public notes, have joined the restructuring support agreement; and (b) existing note holders, which account for about 91.04% of the total outstanding principal amount of other existing debt instruments, have joined the restructuring support agreement.
The company is encouraged by the overwhelming support it has received so far. This is an important milestone in the successful implementation of the restructuring plan. The successful implementation of the restructuring plan will enable the company to achieve a sustainable capital structure to handle its long-term business operations. The Company would like to take this opportunity to thank its overseas creditors, various stakeholders, the company's financial advisors Alvarez & Marsal Corporate Finance Limited, Bank of China International Asia Limited, Haitong International Securities Co., Ltd., and the company's legal advisor, Linlida Law Firm, and the creditor panel and its advisors for their continued support.