KWG Group(01813.HK): Enters into Offshore Debt Restructuring Support Agreement, Initial Participating Creditors Hold Over 26.1% of Debt

NewTimeSpace News: KWG Group Holdings Limited (01813.HK) issued an announcement on June 15, 2026. The company has entered into a restructuring support agreement (RSA) with certain initial participating creditors (including members of the noteholder group). The initial participating creditors hold more than 26.1% of the aggregate outstanding principal amount of the in-scope debt that will be subject to the restructuring. The restructuring aims to provide the company with a long-term path to stabilize its business, achieve a sustainable capital structure and protect the interests of all stakeholders.

The restructuring covers the company’s offshore debt with a total principal amount of approximately US$4.833 billion, including US$3.956 billion in senior notes, US$380 million in syndicated bank loans and US$497 million in liabilities under other loan facilities. Under the restructuring plan, in-scope debt holders will have two economic options: convert their debt into new notes (ALC Notes) and/or mandatory convertible bonds (MCBs).

The company will conduct a rights issue to raise up to US$17.15 million, and the chairman and/or his family members will undertake to subscribe for no less than US$10 million of the rights issue shares. The company also plans to adopt a new share incentive plan to grant up to 3% of the company’s total issued share capital to selected management and employees.

The restructuring support agreement provides for an Early Bird Consent Fee (0.2% of the principal amount of in-scope debt) and a Base Consent Fee (0.1%), payable in the form of ALC Senior Notes. The company urges all in-scope debt holders who have not yet signed the agreement to join as soon as possible.