Alvarez & Marsal Concludes Restructuring of Golden Wheel Tiandi Notes Worth $445 Million

Alvarez & Marsal's Asia Restructuring team has advised Golden Wheel Tiandi Holdings Company Limited on the successful restructuring of its three series of offshore senior notes, totaling $445 million. The property developer's financial reorganization was implemented via a scheme of arrangement in the Cayman Islands.

The restructuring initiative aimed to establish a sustainable capital structure for the company, designed to deliver long-term value for all stakeholders. The agreement provides Golden Wheel Tiandi with a more stable financial footing.

Noteholders expressed significant support for the restructuring plan. Prior to the announcement of commercial terms, approximately 60% of noteholders had already entered into a binding restructuring support agreement. At the scheme meeting, 99% of the represented senior notes voted in favor of the arrangement.

The scheme was officially sanctioned by the Cayman Court on April 4, 2022, marking the conclusion of the complex financial process. The engagement highlights A&M's role in facilitating significant corporate restructurings in the Asia-Pacific region.