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    Home > Finance > Logan Group secures backing from over 80% of creditors for $8 billion debt revamp
    Finance

    Logan Group secures backing from over 80% of creditors for $8 billion debt revamp

    Published by Global Banking & Finance Review®

    Posted on February 27, 2025

    1 min read

    Last updated: January 25, 2026

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    Tags:debt sustainabilitycorporate bondsfinancial crisisoffshore market

    Quick Summary

    Logan Group secures support from over 80% of creditors for its $8 billion debt restructuring, aiming to manage its offshore obligations.

    Logan Group Gains Support from Over 80% of Creditors for Debt Restructuring

    (Reuters) - Shenzhen-based property developer Logan Group said on Thursday it has received the backing for its restructuring proposal from more than 80.8% of its creditors, who together hold $6.21 billion of outstanding offshore debt.

    After having defaulted, the Hong Kong-listed real estate company offered to restructure majority of its $8.01 billion offshore debt in January.

    The company is aiming to restructure $7.56 billion of the total offshore debt, while seeking to relieve creditors of its additional $476 million offshore debt under separate financing instruments.

    Since China's property crisis unravelled in 2021, several developers in the country, including China Evergrande Group, have faced liquidation lawsuits by creditors, with some firms already ordered to dissolve.

    The country's highly indebted developers began tackling the restructuring of offshore bonds in 2022. But for politically sensitive onshore bonds, they have repeatedly extended maturities, pinning their hopes on a pickup in cash flow.

    Sunac China is the first troubled Chinese property developer to successfully reduce its onshore debt this year.

    (Reporting by Rishav Chatterjee in Bengaluru; Editing by Shilpi Majumdar)

    Key Takeaways

    • •Logan Group receives backing from over 80% of creditors.
    • •The restructuring involves $8.01 billion offshore debt.
    • •Logan aims to restructure $7.56 billion of its debt.
    • •China's property crisis began impacting developers in 2021.
    • •Sunac China reduced its onshore debt successfully this year.

    Frequently Asked Questions about Logan Group secures backing from over 80% of creditors for $8 billion debt revamp

    1What percentage of creditors supported Logan Group's restructuring?

    Logan Group received backing from more than 80.8% of its creditors.

    2How much debt is Logan Group aiming to restructure?

    The company is aiming to restructure $7.56 billion of its total offshore debt.

    3What challenges have Chinese property developers faced since 2021?

    Since China's property crisis began in 2021, several developers have faced liquidation lawsuits by creditors.

    4What is the status of onshore bonds for Chinese developers?

    Chinese developers have repeatedly extended maturities for politically sensitive onshore bonds, rather than restructuring them.

    5Who was the first developer to reduce onshore debt this year?

    Sunac China was the first troubled Chinese property developer to successfully reduce its onshore debt this year.

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