China Aoyuan restructuring effective as of March 20; conditions all met

By Marisa Wong

Los Angeles, March 21 – China Aoyuan Group Ltd. announced on Thursday that it and Add Hero have satisfied all of the restructuring conditions under each of the China Aoyuan and Add Hero schemes, including payment of all the RSA fees (the cash component) for further distribution to the relevant scheme creditors (who are not sanctions-affected scheme creditors).

China Aoyuan and Add Hero have designated March 20 as the restructuring effective date.

The company noted that the distribution of the relevant scheme consideration entitlement under the China Aoyuan and Add Hero schemes will begin on the immediate next business day following the restructuring effective date. The distribution will be effected through the respective intermediaries of the scheme creditors and may take up to several business days for the full distribution process to be completed.

As reported, China Aoyuan had entered into its restructuring support agreement in July 2023 to implement a comprehensive restructuring of some of its $6.2 billion of secured and unsecured debt.

Formerly China Aoyuan Property Group Ltd., the investment holding company is based in Guangzhou, China.

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