Bondholders Stand Firm Against Sino-Ocean's Debt Revamp Proposal
Friday, 26 July 2024, 10:46
Bondholders' Opposition
Linklaters, the legal adviser for an ad hoc group of bondholders, held a meeting on Wednesday to discuss Sino-Ocean's debt restructuring proposition. The bondholders strongly oppose the developer’s proposal.
Key Points of Discussion
- The legal advisers urged creditors not to sign the restructuring support agreement.
- Concerns were raised about the financial viability of Sino-Ocean.
- The situation highlights the challenges the developer faces in complying with creditor expectations.
Conclusion
The bondholders' firm stance signifies potential difficulties for Sino-Ocean in resolving its debt issues amid growing investor anxiety.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.