Summary by Moomoo AI
Kaisa Group Holdings Ltd. ("Kaisa Group") announced that it has reached a restructuring support agreement with the creditor committee and invited other creditors to join. The agreement was signed on August 20, 2024 and involves debts within the Kaisa Group and Ruijing scope, with outstanding principal amounts of more than 34% and 36% respectively. The restructuring aims to provide space for the company to recover, maintain stable business, and enhance asset value. The restructuring will be implemented through agreements in Hong Kong, the Cayman Islands, and other jurisdictions. The restructuring cost includes new notes and mandatory convertible bonds convertible into new shares of the company. The company urges creditors who have not signed the agreement to join in achieving the successful restructuring.
