Page 42 - Debt Restructuring News Today

Government to hold off on US$2.4-billion debt payment with Paris Club due Monday and will instead use a 60-day grace period to try to reach an agreement with the group and avert default.

(Bloomberg) -- Kenya may be heading toward a default unless the government of President Uhuru Kenyatta revamps its debt, lawmakers said in a report.The East African nation’s debt servicing costs are poised to surge to a record 1.17 trillion shillings ($11 billion) in the year starting July 1, parliamentary budget office said in a report. That exceeds the administration’s 660 billion shillings proposed spending on development projects.The increase in debt repayments “indicate...

On Wednesday, June 2, at 11.00, the press center of the Interfax-Ukraine news agency will host a press conference "Reducing NPL and sale of first pool of Ukreximbank's non-core assets worth over UAH 1 bln." Participants include: Director of the Debt Restructuring and Collection Department of JSC Ukreximbank Oleh Lazovsky; Managing Partner of the National Electronic Stock Exchange Yevhenia Bozhko; Director General of SOE SETAM Oleksandr Mamro (8/5a Reitarska Street). The press conf...

Group of major creditor nations willing to delay US$2.4-billion debt payment from Argentina due this month if the Fernández administration agrees to certain conditions.

Ping An Insurance stock slammed after US$11 billion plan to reorganise assets of bankrupt Peking University Founder group Ping An and Huafa Group to take up 73 per cent in new entity that will assume Founder’s assets, while 27 per cent is set aside to repay creditors A separate filing in Beijing shows the restructuring could reach between 53.7 billion yuan and 73.3 billion yuan

EnerDynamic Hybrid Technologies Corp. Proceeds with Share Consolidation EHT" or the " Company") (TSX-V:EHT) is pleased to announce that having previously received 72.42% shareholder approval at the Companys Annual General and Special Meeting of Shareholders held on January 19, 2021 regarding the Companys proposed share consolidation on the basis of one (1) post-consolidation common share for up to twenty (20) pre-consolidation common shares (the " Consolidation Ratio") the directors have decide...

Lenders of the debt-ridden Future Retail Ltd have approved a plan to restructure the existing financial debt of the company under an RBI announced resolution framework for COVID-19 related stress. The restructuring plan now would be forwarded for approval to an expert committee, formed by RBI under the chairmanship of K V Kamath, Future Retail Ltd (FRL) said in a late-night regulatory update on Saturday. As part of the resolution plan, the debt raised through the non-convertible debentures i...

Lenders to Future Retail have approved a debt recast plan wherein the company can extend the repayment of loans for up to a period of two years. This follows the approval of debt recast plan by the K V Kamath committee, set up by the RBI to recommend parameters for one-time restructuring of corporate loans. The resolution plan approved by the lenders and the board of directors of Future Retail will be executed by April 26. A group of 28 lenders, including Union Bank of India, Bank of India, ...

Cuatrecasas promotes seven to partner in Spain and Portugal, records €315m revenue Cuatrecasas promotes seven to partner in Spain and Portugal, records €315m revenue Cuatrecasas has appointed seven new partners. The Partners Meeting also approved the appointment of three new counsel in Spain Cuatrecasas has appointed seven new partners, thus strengthening its market position. Lawyers Carlos Ara, Almudena Batista, Manuel Franco, Rosa Mª Gual, Paz Irazusta and Moisés Oller becom...

Workers iron clothing at the Sri Rejeki Isman PT factory in Solo, Central Java, Indonesia. - Bloomberg JAKARTA, April 4 (Bloomberg): Indonesia’s biggest listed clothing firm Sri Rejeki Isman has appointed Helios Capital and Assegaf Hamzah & Partners to represent the company in its debt restructuring process, according to a statement on Saturday. The company, known as Sritex, has been trying to extend a dollar loan’s maturity by two years to January 2024. The loan was announc...