More details of the restructuring plan of Ziguang group were released today.
On December 13, the manager of Ziguang group announced on the website of Shanghai stock exchange that it had officially signed the restructuring investment agreement with strategic investors, formulated the draft restructuring plan and submitted it to Beijing No. 1 Intermediate People’s court.
according to a source close to the source, as a strategic investor in the reorganization, the investment plan submitted by Zhilu Construction & Broadcasting consortium has the highest asset valuation and the largest cash contribution, up to 60 billion yuan, which will be used to pay off the creditors.
cash contribution of 60 billion
provides three settlement schemes
It is understood that Zhilu Jianguang’s cash contribution reached 60 billion yuan, all of which was used to pay off creditors.
In terms of repayment scheme, creditors can choose one of the three schemes of “cash + stock + three-year debt retention”, “cash + stock + five-year debt retention” and “cash + eight-year debt retention”. If all goes well, the three repayment schemes are expected to finally achieve 95% to 100% high-quality repayment.
Among them, the cash repayment proportion of ordinary creditor’s rights is as high as 40%. The stock resources available for debt repayment include Unisplendour Corporation Limited(000938) 18.45% stocks, Unigroup Guoxin Microelectronics Co.Ltd(002049) 6.39% stocks and Xueda (Xiamen) Education Technology Group Co.Ltd(000526) 18.73% stocks. Moreover, the stock debt repayment is fully paid at the market price, and the part other than cash + stocks is fully retained, in which the interest rate of debt retention is from 2.695% to 4.65%.
if the above reorganization plan can be successfully implemented, the rights and interests of creditors will be met to the greatest extent, and the brand of Ziguang group will survive. On the other hand, the original staff of Ziguang group can remain unchanged, generally maintain the stability of the staff, effectively resolve the current existing debts, and provide strong support for the subsequent normal operation of Ziguang.
Some reorganization experts pointed out that for the past reorganization cases of large enterprise groups similar to Ziguang, this scheme is the best in the previous reorganization projects, whether from the perspective of nearly 40% immediate high cash repayment rate of ordinary creditors, no discount for debt repayment with stocks according to the market price, favorable conditions for debt retention interest rate, or from more than 95% to 100% overall repayment rate, The degree of protection of creditors’ rights and interests can be regarded as a model.
the reorganizer has strong strength
judicial reorganization enters the final stage
The reporter learned that Zhilu Jianguang is composed of Beijing Zhilu Asset Management Co., Ltd. and Beijing Jianguang Asset Management Co., Ltd., with strong financial strength.
Over the past 5 years, Chi Lu has led to more than half of cross-border mergers and acquisitions in Chinese mainland semiconductor industry, including the semiconductor company of the world, the 7th largest integrated circuit sealing and testing company, Singapore united technology company, and the four largest factories in China in December.
In addition, the core members of the team are from well-known international semiconductor enterprises, with operation and management experience and international vision of the world’s top technology enterprises. At the same time, as the core investment platform of Beijing Centergate Technologies (Holding) Co.Ltd(000931) financial information industry alliance, the institution can provide industrial docking resources for nearly 200 member units.
According to another announcement disclosed by Ziguang group today, the manager has submitted the draft reorganization plan to Beijing No. 1 Intermediate People’s court and the creditors’ meeting according to law, and sent a notice of convening the second creditors’ meeting to all creditors. The creditors’ meeting will vote on the draft reorganization plan, and the Beijing No. 1 Intermediate People’s court will make a final ruling according to the voting results. This indicates that the judicial reorganization of Ziguang group has officially entered the final stage.
The battle of Ziguang group has been decided! Zhilu Jianguang was finally shortlisted and has led many 10 billion semiconductor investments!
(Shanghai Securities News)
