Chinese property developer Shimao Group has sweetened its offshore debt restructuring terms to garner more support from creditors, according to three sources. This move comes ahead of a liquidation hearing, which has been adjourned to July 31. Shimao is attempting to fend off liquidation by improving the terms of its debt revamp.
The hearing for preliminary approval of the UFC antitrust settlement has been pushed back again. Re-scheduled now for July 12.
Chinese developer Shimao's liquidation hearing adjourned to July 31 https://t.co/ab6w9c0SDN https://t.co/m5W77F4IfS
🇨🇳 Chinese developer Shimao's liquidation hearing adjourned to July 31 - Reuters https://t.co/4GqHoAZ7yj
Soft debt restructuring deals are proving increasingly insufficient for some companies like Adler and Codere, forcing shareholders and creditors to give in and agree to slash debt stacks more significantly. Read it here in The Brink. https://t.co/wTXaZ6SIuX
🔵 CHINESE DEVELOPER SHIMAO SWEETENS DEBT REVAMP TERMS AHEAD OF LIQUIDATION HEARING, SOURCES SAY Shimao Group has sweetened its offshore debt restructuring terms to garner support from creditors, said three sources, as the Chinese property developer scrambles to fend off a… https://t.co/IYl8kGIK5l
CHINESE DEVELOPER SHIMAO HAS SWEETENED OFFSHORE DEBT RESTRUCTURING TERMS TO GARNER MORE SUPPORT FROM CREDITORS