BRIEF-Logan Group Proposes Options To Restructure Aggregate Offshore Debt Of $8,038 Mln

Reuters

Jan 06, 2025

Jan 6 (Reuters) - Logan Group Co Ltd :

* AS AT DATE, AGGREGATE OUTSTANDING PRINCIPAL AMOUNT OF CO'S TOTAL OFFSHORE INDEBTEDNESS US$8,038 MILLION

* ALSO INTENDS TO RESTRUCTURE ADDITIONAL OFFSHORE DEBT, OF TOTAL OUTSTANDING PRINCIPAL AMOUNT OF US$476 MILLION

* HOLISTIC RESTRUCTURING PROPOSAL TO INVOLVE OFFSHORE DEBTS OF CO AND ITS UNITS WITH TOTAL OUTSTANDING PRINCIPAL AMOUNT OF US$7,562 MLN

* PRINCIPAL AMOUNT OF OFFSHORE DEBT EXCHANGED FOR SHORT TERM NOTES AND OPTION MCB UNDER OPTION SHALL BE CAPPED AT US$3,000 MLN

* EVERY US$100 PRINCIPAL AMOUNT OF OFFSHORE DEBT TO BE CONVERTED INTO MANDATORY CONVERTIBLE BONDS, ALONG WITH OTHER OPTIONS

Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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