The company, already heavily indebted, will offer noteholders 10 yuan ($1.60) for every 10,000 yuan they hold in its notes due in 2014, the company says in a stock exchange statement.
In return for the payment, investors must agree to certain amendments to a February 2011 indenture to give it more flexibility to boost liquidity and and “increase cash flow under current challenging market conditions”, says the firm.
The
