China Fortune Land Development Co.Ltd(600340) announcement: on December 27, 2021, the board of directors of the company deliberated and approved the proposal on the implementation of debt restructuring, and deliberated and authorized the matters related to debt restructuring transactions involved in the debt restructuring plan. The main content of the debt restructuring agreement is “with”, that is, the sale of assets takes away about 50 billion yuan of financial debt; “Exhibition” refers to the extension or repayment of priority financial debt of about 35.2 billion yuan; “Redemption” refers to the sale of assets and the return of about 57 billion yuan of funds for cashing financial debts; “Offset” refers to the establishment of a trust with about 22 billion yuan of assets such as held properties to offset about 22 billion yuan of financial debt with the share of beneficial rights of the trust; “Connection” means that the remaining financial debt of about 55 billion yuan is undertaken by China Fortune Land Development Co.Ltd(600340) and gradually paid off. The specific terms of the debt restructuring agreement still need to be negotiated with all creditors in accordance with the debt restructuring plan, and there is some uncertainty about the signing time of the agreement.
(Shanghai Securities News · China Securities Network)
