General Announcement::ANNOUNCEMENT PURSUANT TO RULE 3.7 OF THE TAKEOVERS CODE AND INSIDE INFORMATION

Issuer & Securities

Issuer/ Manager
WINSWAY ENTERPRISES HOLDINGS LIMITED
Securities
WINSWAY US$500M8.5%N160408R - USG97214AA16 - 4TDB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
26-Nov-2015 16:10:06
Status
New
Announcement Sub Title
ANNOUNCEMENT PURSUANT TO RULE 3.7 OF THE TAKEOVERS CODE AND INSIDE INFORMATION
Announcement Reference
SG151126OTHRPIMT
Submitted By (Co./ Ind. Name)
Issuer Services
Designation
SGX-ST
Description (Please provide a detailed description of the event in the box below)
After trading hours on 25 November 2015, the Company, Subsidiary Guarantors and certain of the Consenting Bondholders entered into the Restructuring Support Agreement, pursuant to which they have agreed to support the proposed Debt Restructuring.The proposed Debt Restructuring will consist of a redemption of the outstanding Senior Notes and Interest Payments and all accrued, scheduled interest payments up to the date of the settlement at a discount, with Bondholders accepting a combination of the Cash Consideration, the Scheme Shares and the CVRs in full settlement. The Debt Restructuring will be implemented by the Schemes, for which recognition will be sought in the U.S. under Chapter 15 of the U.S. Bankruptcy Code. Each Bondholder will receive a pro rata allocation of the CVRs and, at its election, a combination of Cash Consideration and Scheme Shares. Upon completion of the Debt Restructuring, the aggregate amount of the Cash Consideration and the aggregate number of Scheme Shares will be completely allocated among the Bondholders in consideration of all claims in respect of the Senior Notes being extinguished. More information, please refer to the announcement dated Nov. 26, 2015.

Attachments

EW01733.pdf
CW01733.pdf
Total size =751K

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