On April 2, Yiju (China) Enterprise Holdings Co., Ltd. (02048.HK) issued an announcement. Since the previous round of debt restructuring plans had been announced and terminated, Yiju will propose a revised debt restructuring plan to creditors.

According to the announcement, Yiju will pay cash costs to creditors for senior notes due in 2022, senior notes due in 2023, and convertible notes. Specifically, $90 in cash is paid for every $1,000 (or HKD equivalent) of registered debt. At the same time, Yiju will pay a restructuring guidance fee of 0.5% of the total principal amount to creditors who voted in favor of the plan within the agreed period.

Based on the revised debt restructuring plan, Yiju will actively seek creditor support under the relevant legal process. According to reports, Alibaba has confirmed that it supports the new restructuring plan in principle.