Fri 04/29/2022 06:43 AM
Public bondholders are displeased with the preliminary restructuring terms proposed by Logan Group, citing the lengthy seven-year amortization term and a lack of credit enhancement, according to two sources familiar with the matter.
The Chinese developer, advised by Houlihan Lokey, has circulated among some bondholders a seven-year amortization proposal for its outstanding offshore public bonds, with 5%, 7.5%, 15%, 15%, 17.5%, 20% and 20%, respectively, being repaid every year during the...
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