Jan 9 (Reuters) - Country Garden Holdings Co Ltd 2007.HK:

• UPDATE ON OFFSHORE DEBT RESTRUCTURING AND BUSINESS DEVELOPMENT

• REACHED AN UNDERSTANDING WITH CO-ORDINATION COMMITTEE

• RESTRUCTURING PROPOSAL WILL ENABLE GROUP TO ACHIEVE SIGNIFICANT DELEVERAGING, WITH A TARGETED REDUCTION OF INDEBTEDNESS UP TO USD11.6 BILLION

• RESTRUCTURING PROPOSAL INCLUDES A MATURITY EXTENSION OF UP TO 11.5 YEARS AND A REDUCTION IN FUNDING COSTS

• RESTRUCTURING PROPOSAL INCLUDES TARGETED DECREASE IN WEIGHTED AVERAGE BORROWING COST TO APPROXIMATELY 2% PER ANNUM POST-RESTRUCTURING

• CONTROLLING SHAREHOLDER CONSIDERING CONVERTING EXISTING SHAREHOLDER LOAN, WHICH HAS AGGREGATE OUTSTANDING PRINCIPAL AMOUNT OF USD1.1 BILLION

• RESTRUCTURING PROPOSAL CONTEMPLATES GIVING THE HOLDERS/LENDERS UNDER THE IN-SCOPE DEBTS 5 ECONOMIC OPTIONS - MANDATORY CONVERTIBLE BONDS, DIFFERENT NOTES AND/OR LOAN FACILITIES, OTHERS

• THE RESTRUCTURING PROPOSAL ADDRESSES OFFSHORE INDEBTEDNESS UNDER THE EXISTING BOND DEBTS, THE EXISTING SYNDICATED LOAN DEBTS, OTHERS

• PROPOSAL INCLUDES ECONOMIC OPTIONS TO CONVERT IN-SCOPE DEBTS INTO CASH MANDATORY CONVERTIBLE BONDS DIFFERENT NOTES AND/OR LOAN FACILITIES, OTHERS

• PROPOSAL OFFERS CREDITORS STRUCTURES BETWEEN SALE OF RELEVANT IN-SCOPE DEBTS BY WAY OF A TENDER OFFER FOR CASH, PURE EQUITISATION

• PROPOSAL ALSO OFFERS CREDITORS MATURITY EXTENSION AND PARTIAL EQUITISATION, AMONG OTHER OPTIONS

Further company coverage: 2007.HK

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