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COUNTRY GARDEN Considers Extending Early-Bird/ General Restructuring Support Agreement Fee Deadlines
Recommend 12 Positive 20 Negative 8 |
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COUNTRY GARDEN (02007.HK) is seeking an a holistic solution to address the Group's material offshore indebtedness and the extension of the restructuring support agreement (RSA) fee deadlines, as announced by COUNTRY GARDEN. Under the RSA, the Company has discretion to extend unilaterally the Early-Bird RSA Fee Deadline and/or General RSA Fee Deadline, subject always to certain specific matters described in the RSA. The Company understood that there are many creditors who have not yet acceded to the RSA but who are supportive of the Proposed Restructuring. These creditors are processing their usual internal approval procedures before they can formally accede to the RSA. In these prevailing circumstances, the Company intended to continue to exercise that discretion, when appropriate, until further notice. The Company will provide a further update if the Company decides that it should refrain from exercising its discretion in extending the RSA Fee Deadlines. AASTOCKS Financial News Website: www.aastocks.com |
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