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融創中國(01918.HK):擬將最多40億美元股東借款轉換為普通股或股權掛鉤工具
阿思達克 12-09 08:38
融創中國(01918.HK)公布重組進展,集團一直積極與其法律顧問盛德律師事務所及財務顧問華利安諾基(中國)評估當前的財務和經營狀況,以期制定尊重所有利益相關方權利的解決方案。據此,集團與其發行的本金總額約為91億美元的優先票據及其他境外債務的若干持有人及其顧問進行溝通與建設性接洽,以推動經各方同意的集團境外債務重組方案的制定。該等現有債務持有人已成立的境外債權人小組共同持有或控制超過30%的現有債務本金總額。 初步重組框架包括降槓桿計劃,公司擬將現有債務中的30億至40億美元及若干股東借款轉換為普通股或股權掛鉤工具;將剩餘現有債務兌換為新的以美元計價公開票據,期限為自重組生效之日起2至8年。為了向集團提供適當的時間以恢復營運及流動性,預計新票據於重組後前兩年的部分利息可以只計提不支付,之後相關利息再以現金支付;若干資產的處置所得款項淨額將作為償還新票據的額外資金來源;向支持重組方案的債權人提供同意費。 截至目前,集團仍在與債權人小組溝通上述境外重組方案,且尚未就境外重組的條款訂立正式協議。 此外,集團於今年6月30日的有息負債金額與2021年底相比無重大變動,其中境外有息負債本金額約為110億美元(未經審核)。在該等境外債務中,約37億美元(約佔境外債務總額的34%)的原始到期日為2022年底前。 截至今年6月底集團物業開發板塊包含其合營及聯營公司的未經審核現金餘額合計約為1,200億元人民幣(下同),其中併表的現金餘額約為410億元。該等現金大部分存放於項目層面的監管賬戶。於未來七年左右,集團連同其合營及聯營公司的開發項目預期產生現金流總額約為3,200億元,當中預測現金流總額中約20%預期可用於集團境外實體償債;於未來七年或更長時間內,集團將視市場情況及資產營運情況可能考慮逐步出售部分資產,預計將使集團的整體流動性增加約600億元。
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