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Xinyuan Real Estate Co., Ltd. (NYSE:XIN), a residential building contractor based in Beijing, announced today an update on its ongoing offshore debt restructuring efforts. The company is working on a Scheme of Arrangement under section 86 of the Cayman Islands Companies Act (2025 Revision) to restructure its US dollar-denominated notes.
As part of the restructuring process, Xinyuan has reported that note holders representing about 33% of the aggregate principal amount of the affected notes have agreed to support the restructuring by signing the Restructuring Support Agreement (RSA). This agreement aims to fully discharge the company’s liabilities under the Scheme Notes, which include senior notes due in 2023, 2024, and 2027 with varying interest rates.
The company also announced an extension of the RSA fee deadline to June 30, 2025. Note holders who agree to the terms and conditions laid out in the RSA may be eligible to receive an RSA Fee, which is detailed within the agreement.
Xinyuan is inviting holders of the outstanding notes who have not yet acceded to the RSA to consider the terms and join the agreement as soon as possible. To accede to the RSA, note holders must submit a completed and executed Accession Letter along with evidence of beneficial holding to D.F. King Ltd, the information agent for the restructuring.
The information agent is also available to answer any questions regarding the accession process. This move is part of the company’s efforts to improve its financial stability by addressing its offshore debt obligations.
This report is based on a press release statement and aims to provide shareholders and potential investors with an update on the company’s financial restructuring efforts.
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