CIFI Overseas Restructuring Support Protocol Officially Signed with 47% Bondholders Support

On September 27, CIFI Holdings made new progress in the comprehensive solution of overseas debt. CIFI disclosed today that it has entered into a formal restructuring support protocol (RSA) with members of the Bondholders Group (AHG), which together account for 46.9% of the total outstanding principal amount of the offshore notes and 31.1% of the total principal amount of the total offshore debt. It is understood that CIFI’s overseas restructuring involves 10 senior bonds, 1 convertible bond and 1 perpetual bond, as well as 13 offshore loans, with a total principal size of US$6.858 billion. Based on the restructuring framework of “short-term debt reduction, mid-term equity conversion, and long-term capital preservation and interest rate reduction”, CIFI provides 8 options, including short-term notes, medium-term notes + mandatory convertible bonds, and USD-denominated long-term loans.