Core Viewpoint - The company, Fantasia Holdings (01777.HK), has updated its offshore debt restructuring terms and reached an agreement with over 34.9% of its creditors, following nearly four years of debt default [1] Group 1: Debt Restructuring Progress - As of August 4, 2024, the company announced that it has engaged in constructive dialogue with its offshore creditors and has established a restructuring support agreement with a group of creditors holding over 34.9% of the outstanding principal [1] - The new restructuring proposal includes a significantly reduced interest rate of 3% for new loans or notes, compared to previous financing costs, and extends the maximum maturity period to nine years [1] - The deadline for the restructuring support agreement has been extended to August 1, 2025, reflecting ongoing negotiations and updates to the restructuring plan [4] Group 2: Financial Performance - For the year ending December 31, 2024, the company's revenue was approximately RMB 4.574 billion, a decrease of about 71.1% year-on-year, primarily due to a decline in property delivery volumes [5] - The company reported a loss attributable to shareholders of approximately RMB 8.312 billion, widening from a loss of RMB 6.488 billion in the previous year, with a loss per share of 143.98 cents [5]
债务违约近四年,花样年更新境外债务重组条款