China Property Developer CIFI Proposes New Restructuring Terms to Halve Offshore Debt
KONTAN.CO.ID - HONG KONG - Shanghai-based property developer CIFI Holdings (0884.HK) said on Wednesday it has proposed five options with different maturity extensions and haircuts to its bondholders to restructure its $7 billion offshore debt.
The debt revamp proposal, which also includes swapping part of the debt for equity, aims to halve the firm's debt to $3.3 billion to $4 billion, it said in a filing.
