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Published on 2/12/2016 in the Prospect News Distressed Debt Daily and Prospect News Emerging Markets Daily.

China Fishery subsidiary’s 9¾% noteholders form informal committee

By Caroline Salls

Pittsburgh, Feb. 11 – China Fishery Group Ltd. indirect wholly owned subsidiary CFG Investment SAC said an informal committee of holders of its $300 million of 9¾% senior notes due July 30, 2019 has been formed.

According to a news release, Kirkland & Ellis is representing the informal committee.

In addition, Kirkland & Ellis indicated that it is also in contact with a broader group of the noteholders, and some members of the broader group may seek to join the committee when discussions with the China Fishery Group begin.

The committee and the broader group hold more than 40% of the outstanding principal amount of the notes. The company said it considers that this is a representative group of noteholders with which it will be able to hold constructive discussions.

China Fishery is a Hong Kong-based manager and operator of fishing vessels for coastal and deep-sea industrial fishing.


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