Fantasia Holdings (HKG:1777) said a Cayman Islands court hearing is set for January 23 to approve its offshore debt restructuring, according to a Thursday Hong Kong bourse filing.
Shares of the property developer fell over 2% in late morning trade Friday.
The deal covers $4.02 billion in senior bonds and up to $900 million in other instruments, offering creditors three options that include partial exchanges into short- or long-term notes with equity or mandatory convertible bonds, or a full debt-to-equity swap.
Previously, creditors holding 84% of the company's existing notes signed on to the new restructuring proposal.
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