KWG Group appoints financial adviser for offshore debt restructuring

By Marisa Wong

Los Angeles, July 6 – KWG Group Holdings Ltd. issued an update on its offshore debt restructuring, according to a notice on Thursday.

As disclosed on May 14, an event of default had occurred under various debt securities of the company.

Given existing challenges, the company determined that it needed to explore “a holistic solution” to its current offshore debt situation immediately to secure its sustainable operations for the benefit of all of its stakeholders.

As a first step, the company has appointed Alvarez & Marsal Corporate Finance Ltd. to assess its capital structure, evaluate the liquidity of the group and explore all feasible options to ease the current liquidity issue and reach that “holistic solution” as soon as possible.

Offshore creditors may contact representatives of the financial adviser at +852 3102 2600 or ProjectReborn@alvarezandmarsal.com.

As previously announced, at the request of the company, trading of the company’s September 2023 notes, March 2024 notes, November 2024 notes, August 2025 notes, February 2026 notes, August 2026 notes and January 2027 notes on the Stock Exchange of Hong Kong Ltd. has been suspended with effect from May 16 and will remain suspended until further notice.

KWG is a property developer based in Guangzhou, China.

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