Roadlink's offshore debt restructuring progress: Holders are divided in opinion, with those opposing the company's new plan forming a new AHG.

Ask AI · What goal is the opposition group pursuing by forming a new AHG interim team?

On April 3, The Paper learned from an informed source that during Road King’s offshore debt restructuring, opinions within AHG (the creditor group) became divided. Two holders holding approximately 15% of the unpaid principal amount of the existing notes agreed to the latest restructuring proposal, while the remaining four holders holding approximately 10% of the stake were not satisfied with the current proposal and wanted to continue pushing for the company’s liquidation.

It is reported that members of the opposition group have appointed new advisors and hope that more holders will join the interim team.

On March 16, Road King announced that the company had reached a principle-level agreement with a substantial proportion of its creditors (including some AHG members) regarding the revised restructuring proposal (the “principle-level restructuring proposal”). The principle-level restructuring proposal will be implemented through two interdependent and mutually conditional debt restructuring arrangements: the “New Select Plan” and the “Road King Plan.”

On March 23, The Paper previously reported that two institutions from AHG had agreed to the latest restructuring proposal, accounting for approximately 65% of AHG’s holdings. AHG is made up of holders that hold approximately 25% of the unpaid principal amount of the existing notes.