BRIEF: Bondholders approve Logan’s onshore debt restructuring

3380.HK

Real estate developer Logan Group Co. Ltd. (3380.HK) said on Wednesday that restructuring plans for 21 of its onshore corporate bonds and asset-backed securities (ABS) have all been approved by related bondholders, and provide options including full conversion into designated assets, asset-for-debt swaps, cash repurchases and equity economic rights. 

Logan said it will make arrangements for the restructuring plan selected by specific bondholders in accordance with their relevant agreements.

The company’s liabilities totaled about 187.78 billion yuan ($26.15 billion) at the end of 2024, while its assets totaled 212.59 billion yuan, and it held 8.65 billion yuan in cash, according to its 2024 annual report.

Shares of Logan opened up 4.4% at HK$0.95 on Thursday. The stock is down around 46% from its 52-week high.

By Lau Chi Hang

To subscribe to Bamboo Works weekly free newsletter, clickhere

,
,

Related Articles

RELATED ARTICLES

No related posts.

Discover hidden China stock gems in our weekly newsletter

Follow us

Facebook Twitter Linkedin Weixin Weibo Youtube

Subscribe to Our Free eNewsletter

Subscribe

Check out our content with some of our syndication partners

factiva

Recent Articles

Ligent Technologies launches $700 million Hong Kong IPO

Optical communications product maker Ligent Technologies Inc. (9856.HK) launched its Hong Kong IPO on Monday, aiming to raise about HK$5.45 billion ($695 million) by selling 172 million shares to investors…
9856.HK