HK Stock Market Move | AGILE GROUP (03383) surges over 10%, nearing finalization of over US$5.18 billion offshore debt restructuring plan.

AGILE GROUP (03383) rose over 10%, up 10.57% as of press time, at HK$0.136, with a turnover of HK$643,300. On the news front, on October 5, AGILE GROUP announced significant progress in its offshore debt restructuring. As of the announcement date, the company and the coordinating committee are close to finalizing negotiations and the text of the term sheet for the commercial terms and the restructuring support agreement setting out the restructuring terms. Thereafter, the company and the coordinating committee intend to publish the restructuring support agreement within 6 weeks from the announcement date. The coordinating committee collectively holds approximately 61.5% of the total outstanding principal amount of the existing syndicated loans. The plan involves financial debt with a total principal amount of approximately US$5.183 billion, including US$975 million outstanding principal of existing syndicated loans, US$1.747 billion outstanding principal of senior notes, US$1.9 billion outstanding principal of perpetual securities, US$308 million outstanding principal of exchangeable bonds, and US$252 million outstanding principal of other liabilities.