Builder Times China's Debt Talks Speed Up Before Wind-Up Hearing.

DEBT; DEBTOR & creditor; DEBT relief; FINANCIAL planners; INVESTORS

Chinese builder Times China Holdings Ltd. is reportedly accelerating debt restructuring talks with its major creditors, including banks and bondholders, in an effort to reduce the risk of liquidation. The company has been communicating with creditors on a daily basis since receiving a liquidation petition in April. The debt talks are still ongoing, with key issues being discussed including the amount of debt reduction, upfront cash payments, and tenor extensions. Times China's first liquidation hearing is scheduled for July 3. This case is one of several examples of offshore creditors using Hong Kong courts to push Chinese developers to negotiate. [Extracted from the article]

Copyright of Bloomberg.com is the property of Bloomberg, L.P. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)