GEORGE TOWN, Cayman Islands, Nov. 2, 2017 /PRNewswire/ — Global A&T Electronics Ltd. (the “Company“) announced today that on November 2, 2017, it entered into a Global Settlement, Forbearance, and Restructuring Support Agreement (the “RSA“) with its key stakeholders regarding the material economic terms of a consensual restructuring that will strengthen the Company’s capital structure while enabling its day-to-day business operations to continue without disruption.
The material terms of the proposed restructuring, which are detailed in the RSA, are supported by: (1) approximately 87% of the holders of the Company’s 10% Senior Secured Notes due in 2019 issued in February 2013 (the “Initial Notes“); (2) approximately 83…
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