Winsway Enterprises noteholders agree to support debt restructuring

By Caroline Salls

Pittsburgh, Dec. 21 – Winsway Enterprises Holdings Ltd. said holders of more than 30% of the outstanding principal amount of its senior notes agreed to support the company’s proposed restructuring.

According to a news release, the noteholder consent was a condition to an undertaking executed on Nov. 25. The undertaking is now unconditional.

A consent fee will be paid to bondholders that become a party to the restructuring support agreement before the Dec. 23 deadline.

If a proposed rights offering is not completed, Winsway said it will need to continue exploring other solutions to complete a debt restructuring.

Winsway is a Hong Kong-based importer of coking coal.

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