Summary by Futu AI
Shimao Group announced on July 26, 2024 that it has signed a revised agreement on creditor support and made some adjustments to its overseas debt restructuring plan. The revision aims to reflect changes that the company considers beneficial to participating creditors and will not have a significant adverse impact on their interests. The revision includes increasing the minimum cash interest payment, adjusting the redemption or repayment schedule, and strengthening the collateral and mortgage portfolio. The company has urged participating creditors to continue to support the proposed debt restructuring and has indicated that most of the planned creditors (including bill holders and bank lenders) have joined the revised creditor support agreement. The company will continue to maintain close contact with bank lenders and...Show More