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Bond Market News
Logan Group Wins Court Approval for Debt Restructuring
August 25, 2026
– Ritish G
Chinese property developer, Logan Group has received court approval to implement its debt restructuring plan, more than four years after defaulting during the country’s property crisis. The plan received support from majority of its creditors under a scheme of arrangement. Logan had about $7.5bn of offshore debt to be restructured as of January 2025. The restructuring took effect on August 21 following the court’s approval. The company faced prolonged negotiations with creditors and received their support for restructuring early last year. The court approval marks an important step for Logan, but the company continues to face weak demand. For instance, new home prices in China declined at a faster pace in July, while other developers have faced fresh liquidity issues even after completing initial restructurings.
Logan’s dollar bonds continue to trade at deeply distressed levels of 7-8 cents on the dollar.
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