AGILE GROUP (03383.HK): Offshore Debt Restructuring Nears Terms; US$5.183bn of Debt Covered

NewTimeSpace News: On 5 October 2026, Agile Group Holdings Limited (stock code: 03383) announced that it has maintained constructive dialogue with certain offshore creditors, including a key group of offshore lenders under its existing syndicated loans, to formulate a financially viable long-term comprehensive offshore debt restructuring solution; over the past months the Company has been negotiating with a coordinating committee comprising offshore lenders who are holders of the existing syndicated loans. Based on the information available to the Company, as at the date of the announcement the coordinating committee held in aggregate approximately 61.50% of the outstanding principal amount of the existing syndicated loans.

As at the date of the announcement, the Company and the coordinating committee are close to finalising the negotiation and text of a term sheet and a restructuring support agreement setting out the terms of the restructuring; thereafter, the Company and the coordinating committee intend to publish the restructuring support agreement (with the term sheet) within six weeks from the date of the announcement, subject to progress of the internal approval processes of the coordinating committee members.

On the key terms, the restructuring involves the settlement of the Company's financial indebtedness with an aggregate principal amount of approximately US$5.183 billion, comprising US$975 million under the existing syndicated loans, US$1.747 billion of senior notes, US$1.9 billion of perpetual securities, US$308 million of exchangeable bonds and US$252 million of other liabilities relating to other loans borrowed or guaranteed by the Company; the restructuring consideration comprises an aggregate of 9,199,067,647 new shares, representing approximately 64.6% of the Company's share capital immediately following the issue of the new shares upon completion of the restructuring.

The restructuring is intended to be implemented through one or more mutually conditional restructuring processes, which may include a listed-company UK scheme, a listed-company Hong Kong scheme, a guarantor Hong Kong scheme and/or other in-court or out-of-court proceedings. The Company is considering a cash consent fee equal to 0.2% of the outstanding principal amount of the relevant debt for in-scope creditors that sign and support the restructuring within 28 days of the launch of the restructuring support agreement, and 0.1% for those signing thereafter but within 42 days. The announcement emphasised that no legally binding agreement has been entered into as at the date of the announcement, and referred to the Company's announcements regarding the winding-up petition dated 9 December 2025, 25 February 2026, 2 March 2026 and 29 June 2026.

NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.