Alvarez & Marsal’s Asia Restructuring team recently advised Golden Wheel Tiandi Holdings Company Limited (“Company”), a Hong Kong listed property developer, on the successful restructuring of its three series of offshore notes totaling USD445m (“Senior Notes”). The restructuring was implemented by way of a scheme of arrangement in the Cayman Islands. The restructuring provides the Company with a sustainable capital structure to deliver long-term value for all of its stakeholders.

The restructuring was highly recognized by the noteholders. Before announcement of the commercial terms, Golden Wheel Tiandi has already obtained support from approximately 60% of the noteholders via the execution of a binding restructuring support agreement. At the scheme meeting, noteholders representing approximately 93% of the Senior Notes voted on the meeting, out of which, noteholders with over 99% of the scheme claim voted in favor of the scheme. The scheme was subsequently sanctioned by the Cayman Court on 4 April 2022.

Congratulations to the A&M team Ron Thompson, Weijing Li, Mingxiao Chen, Sean Yang, Winnie Wang