Reported 4 months ago
Chinese developer Logan Group Co. is facing a critical phase in its $8 billion offshore restructuring, with only three months left to pay or refinance a loan tied to a luxury home project in Hong Kong. The loan, not part of Logan's restructuring plan, is crucial for separate debt and bondholders relying on project income. Logan has engaged JPMorgan Chase & Co. for refinancing, but no deal has been finalized. Failure to repay or refinance the loan could risk losing control of the project and jeopardize the restructuring plan.
Source: YAHOO