Logan Group Proposes Restructuring $8 Bn Offshore Debt
Real Estate

Logan Group Proposes Restructuring $8 Bn Offshore Debt

Hong Kong-based developer Logan Group announced that it had proposed a restructuring plan for the majority of its approximately $8.01 billion in offshore debt, which includes offering mandatory convertible bonds (MCBs) to its offshore creditors.

The company aims to restructure $7.56 billion of its total offshore debt, while also seeking to alleviate an additional $476 million of offshore debt under separate financing instruments.

In August, Logan Group had secured a loan of HK$8.2 billion to refinance part of this outstanding debt as it struggled to recover from the property sector collapse of 2021.

According to the restructuring proposal for the larger portion of the debt, offshore creditors would have the option to convert the debt into cash, mandatory convertible bonds (MCBs), long-term notes, or a combination of MCBs and short-term notes. After failing to make repayments since August 2022, Logan Group stated that the proposal was designed to ease the company’s debt burden and restore its capital structure.

Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

Hong Kong-based developer Logan Group announced that it had proposed a restructuring plan for the majority of its approximately $8.01 billion in offshore debt, which includes offering mandatory convertible bonds (MCBs) to its offshore creditors. The company aims to restructure $7.56 billion of its total offshore debt, while also seeking to alleviate an additional $476 million of offshore debt under separate financing instruments. In August, Logan Group had secured a loan of HK$8.2 billion to refinance part of this outstanding debt as it struggled to recover from the property sector collapse of 2021. According to the restructuring proposal for the larger portion of the debt, offshore creditors would have the option to convert the debt into cash, mandatory convertible bonds (MCBs), long-term notes, or a combination of MCBs and short-term notes. After failing to make repayments since August 2022, Logan Group stated that the proposal was designed to ease the company’s debt burden and restore its capital structure.

Next Story
Infrastructure Energy

Odisha Issues EoI for Rooftop Solar Feasibility Survey

The Odisha Renewable Energy Development Agency (OREDA) has invited expressions of interest (EoI) for conducting detailed surveys and preparing feasibility reports for grid-connected rooftop solar power projects. OREDA intends to install solar projects on 1,502 government buildings across the state, covering areas served by four distribution companies (DISCOMs): TP Central Odisha, TP Western Odisha, TP Northern Odisha, and TP Southern Odisha. Bids must be submitted by February 10, 2025, with bid opening scheduled for February 15. Bidders must submit a bid security of Rs 2 million ($23,095), an ..

Next Story
Infrastructure Urban

NBCC Secures Rs 35 Bn Work Order for Mixed-Use Development in Lucknow

State-owned NBCC (India) Ltd has secured a Rs 3,500 crore work order for the development of a mixed-use project in Lucknow. In a regulatory filing made on Monday, NBCC announced it had signed a Memorandum of Understanding (MoU) with Sarkari Awas Nirman Avam Vitt Nigam Ltd, which will award the works for mixed land-use development at Poorvi Vihar, Lucknow, covering an area of 588 acres. NBCC has been appointed as the Project Management Consultant (PMC) for this large-scale project. As per the MoU, NBCC is tasked with taking possession of the site and handling the planning, design, and developme..

Next Story
Infrastructure Urban

Alta Cap's EcoBox Industrial Acquires Land for Logistics Development

EcoBox Industrial Parks, an operating platform newly established by Logicap Advisors, has acquired 50 acres of land in Chennai’s Mannur locality for greenfield logistics development. This marks the first land deal of the year for the company, which is backed by Alta Capital. EcoBox plans to develop industrial and logistics facilities spanning 1.2 million sq ft, with an investment of over Rs 400 crore. The site, located just 3 km from State Highway 50, is strategically positioned to meet the increasing demand for modern industrial and logistics infrastructure. Ashish Shah, CEO of EcoBox Indus..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000