Sino Grandness enters into restructuring agreement with bondholders

SINGAPORE (July 10): Sino Grandness Food Industry Group said it has entered into a restructuring agreement with its bondholders for a further restructuring of the 2011 Bonds, the 2012 Bonds, the 2011 SB2 Bonds and the 2012 SB2 Bonds.

The restructuring includes full redemption of the 2011 SB2 Bonds and 2012 SB2 Bonds with aggregate principal sum of RMB178.6 million ($36.4 million).

There is also the substitution of the 2011 Bonds into 2011 Preference Shares and 2012 Bonds into 2012 Preference Shares.

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