Logan hires White & Case as restructuring legal adviser
Logan Group has engaged White & Case as principal legal adviser for its restructuring plan.
The company said it will work to implement the plan in a "timely and expedient manner" together with its creditors and White & Case.
Logan said in July that it had gained consent from bondholders representing 92% of the aggregate outstanding principal amount of its offshore bonds for the offshore restructuring plan, which covers 12 US dollar-denominated offshore notes with an outstanding principal amount totalling US$6.6bn, as well as certain loans and equity-linked securities.
Last month, it also obtained a HK$8.2bn (US$1.1bn) refinancing to repay a larger syndicated loan from 2021 relating to the purchase of an ultra-luxury apartment project in Hong Kong via a joint venture with another distressed property company, KWG Group.
White & Case joins the list of advisers to Logan, which comprises Alvarez & Marsal Corporate Finance, Kroll (Hong Kong), Haitong International Securities, PJT Partners (HK) and Freshfields Bruckhaus Deringer.