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CFG Investment’s first hearing for restructuring plan will be held Oct. 1
Chicago, Sept. 10 – CFG Investment SAC has circulated a practice statement letter about its proposed restructuring plan to holders of its $300 million 9¾% notes due 2019 and lenders under its $650 million term loan and revolver, according to a notice.
The first hearing in relation to the restructuring plan will be held on Oct. 1 before the English Court.
The existing noteholders and lenders will each vote in a separate class when considering the plan.
The terms are set out in CFG Peru Investments Pte. Ltd. (Singapore)’s creditor plan as confirmed on June 10 by the U.S. Bankruptcy Court for the Southern District of New York. Additional information is in the restructuring support agreement entered into by members of the ad hoc group of certain existing noteholders and certain club lenders.
Part of the restructuring plan includes the issuance of up to $300 million 10% second-lien notes due 2031 to holders of the notes. Noteholders must comply with specified settlement procedures in order to receive certain consideration to which they may be entitled in connection with the restructuring.
As of Sept. 6, 90% of the noteholders support the plan and approximately 94% of the club lenders.
The practice statement letter is available to noteholders and club lenders on the plan website at https://deals.lucid-is.com/cfg. Lucid is working as information agent for the company (cfg@lucid-is.com).
Skadden, Arps, Slate, Meagher & Flom LLP is the legal adviser to the company.
Kirkland & Ellis International LLP is the legal adviser to the ad hoc group.
China Fishery is a Hong Kong-based manager and operator of fishing vessels for coastal and deep-sea industrial fishing. CFG is a company incorporated under the laws of Peru.
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