Times China Holdings (HK:1233) has released an update.
Times China Holdings Limited has been actively pursuing a restructuring of its offshore debts and has made significant progress by reaching an agreement in principle on the key terms of a holistic proposal with an ad hoc group of creditors. This milestone marks a crucial step towards establishing a sustainable capital structure for the company’s long-term future. The creditors group represents over 25% of the outstanding principal amount of the existing notes, indicating substantial creditor engagement in the restructuring process.
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