According to Zhitong Finance App, Huayangnian Holdings (01777) issued an announcement. On April 29, 2024, the company signed a restructuring support agreement with a group of bondholders (holding about 32% of the total outstanding principal amount of existing notes).

According to the restructuring support agreement, from the time of entry into force, each participating creditor shall use its beneficial rights in existing debt instruments (or statutory and beneficial interests in the case of additional debt instruments) to approve and fully support the proposed restructuring and the plan that complies with the terms and conditions contained in the restructuring support agreement.

Such provisions include an undertaking by each participating creditor not to sell, transfer or otherwise dispose of the rights in the participating debt from the effective date, unless the transfer is made in accordance with the transfer provisions of the reorganization support agreement.