Powerlong secures key restructuring agreement with creditors
Powerlong Real Estate Holdings Limited has made substantial progress on its holistic solution to address liquidity issues concerning its Scheme Debt, entering into a Restructuring Support Agreement (RSA) on October 10, 2025. This agreement includes Ad Hoc Group (AHG) members holding approximately 31% of the aggregate outstanding principal amount of the Scheme Debt. The company urges other Scheme Debt holders to accede to the RSA for successful implementation of the Holistic Solution.
The restructuring framework offers Scheme Creditors various options, including cash, Powerlong Commercial Management Holdings Limited shares, mandatory convertible bonds into Company shares, new medium-term notes, new long-term notes, and new loans. Cash consideration for Option 1 is capped at $40,000,000, funded by the pledge or disposal of Powerlong CM Shares. A cash consent fee of 0.15% of the aggregate principal amount of Eligible Participating Debt will be paid by November 28, 2025, to acceding creditors.
The aggregate principal amount of Mandatory Convertible Bonds (Option 3) is capped at $1,200,000,000, and the new long-term notes and new loan (Option 5) combined will not exceed $500,000,000. All outstanding In-Scope Debt will be cancelled, and relevant guarantees and securities released on the Restructuring Effective Date (RED), no later than September 30, 2026.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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