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<CN Home>CHINA VANKE Offshore Creditors Approached by Advisor: Wire
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Offshore creditors of CHINA VANKE (02202.HK) have begun receiving contacts from advisor Houlihan Lokey Inc. requesting negotiations, Bloomberg reported, citing sources. It is understood that if CHINA VANKE's offshore bonds default, creditors' negotiation leverage will come from the ability to enforce and pursue the "keepwell provision" or the liquidation of CHINA VANKE's Hong Kong subsidiary, which is the nominal issuer of its USD bonds. The advisor has informed bondholders that there is uncertainty in enforcing the "keepwell provision" and is attempting to form an ad hoc group. AAStocks Financial News |
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