Thu 05/25/2023 22:33 PM
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Relevant Documents:
Excel File on Reorg Analysis Page
$232 Million 9.125% Notes Due 2024 (OM)
$261 Million 9.109% Perpetuals (Perps OM)
“23 China Grand Auto G1” - Prospectus (Onshore OM)
Q1’23 Financials
FY’22 Annual Report
 
Reorg Asia Highlights:
  • China Grand Automotive Services Group Co. Ltd., or CGA’s needs to refinance 90% to 95% of its bank loans maturing in 2023 in order to preserve around CNY 4.5 billion of unrestricted cash at the end of 2023 unless free cash flow turns strongly...
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