L R AS Published on Monday 8 February 2021 - n° 349 - Categories:funding
CGL Poly's creditors have refused to exchange the debt
CGL Poly's creditors refused to exchange the $500 million debt for other three-year bonds carrying 10%.
Only 53% accepted, when 90% were needed. GCL Poly will proceed with a debt restructuring plan. Creditors may now receive less than 5% of the amount owed once the proposed debt restructuring is completed,
https://www.pv-magazine.com/2021/02/01/gcl-poly-cross-defaults-over-unpaid-500m-senior-notes/
PV Magazine of1 February 2021
