China Tonghai Subsidiary Restructures Debt Repayment

China Tonghai International Financial Limited (HK:0952) has released an update.

China Tonghai International Financial Limited’s subsidiary, Quam Finance, has entered into a settlement deed with a borrower in default, agreeing to accept only the outstanding principal as full repayment of the debt. The financial assistance provided to the borrower has been disclosed as per the Hong Kong Listing Rules, due to its exceedance of certain percentage ratios. The company’s actions come after acquiring all rights to the borrower’s margin loan debt, aiming to restructure repayment considering the borrower’s financial situation.

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