Page 16 - Debt Restructuring News Today

CNTL, wholly owned by IL&FS Transportation Networks (ITNL), is likely to be resolved through transfer to an InvIT structure as part of its restructuring plan. This transaction follows Edelweiss previous acquisition in 2021 when it purchased CNTLs loan of Rs 750 crore, recovering 75%-80% of the loans value, originally sold by IndusInd Bank. CNTL currently has a total debt of Rs 5,454 crore, with Rs 4,195 crore owed to lenders and the remaining Rs 1,295 crore from IL&FS group entities.

Shares of debt-laden property developer China Evergrande Group soared Tuesday after they resumed trading in Hong Kong following a suspension last week. Evergrande is the world’s most heavily indebted real estate developer and is at the center of a property market crisis that is dragging on China’s economic growth. The company’s stock was suspended from trading last week as it confirmed Chinese police were investigating its chairman, Hui Ka Yan, on “suspicion of ille...

Evergrande has been working to get creditors' approval to restructure its offshore debt but the process grew more complicated last week when the company said it could not issue new debt due to an investigation into its main China unit. Reuters reported last week that a group of offshore creditors was planning to join a court petition to liquidate the developer if it did not submit a new debt restructuring plan by the end of October. Evergrande did not immediately respond to a Reuters requ...

Germany has welcomed a show of support from China for the G20 debt restructuring framework for poorer countries in a joint statement after their financial dialogue in Frankfurt over the weekend. "We welcome the fact that the Chinese side is also committed to this in our Joint Statement, because solutions are inconceivable without China as such an important player in world politics," German Finance Minister Christian Lindner said on Sunday, after his meeting with Chinese Vice Premier H...

The Khaitan family, promoters of bulk tea producer McLeod, has been in discussion with banks for quite some time but a resolution remains elusive so far

China Evergrande Group sold its luxury superyacht for about $32 million earlier this year, said two sources, further shrinking the developer's offshore assets as its cash crunch worsened and it scrambled to pull together a debt revamp plan. Evergrande's offshore bondholders are expected to sharpen their focus on offshore assets as the developer's debt restructuring plan flounders with the founder now being investigated over suspected "illegal crimes". The debt restruct...

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Trading in shares of heavily indebted Chinese property developer China Evergrande Group was suspended in Hong Kong on Thursday, according to a notice on the Hong Kong stock exchange. The suspension comes after Bloomberg News reported that the chairman of Evergrande, Hui Ka Yan, had been taken away earlier this month and placed under police watch. Evergrande is the world’s most heavily indebted real estate developer and is at the center of a property market crisis that is dragging on Chi...

Designated News Release VANCOUVER, BC, Sept. 28, 2023 /PRNewswire/ - Sandstorm Gold Ltd. is pleased to provide various corporate and asset updates . ...