Logan Group, a Chinese property developer, has made significant strides in addressing its substantial debt. On July 24, 2026, the company announced that its restructuring proposal for 21 onshore corporate bonds and asset-backed securities, issued by its subsidiary Shenzhen Logan, received approval from bondholders. This onshore plan will adjust repayment arrangements and offer various options to bondholders, including full conversion into designated assets, asset-for-debt swaps, cash repurchases, and equity economic rights.
Adding to its progress, Logan Group secured the necessary statutory majorities for its offshore restructuring schemes at a meeting on July 24, 2026. This offshore debt restructuring effort involves an estimated $8 billion. As of February 27, 2025, the company had already gained the backing of over 80.8% of its creditors, holding $6.21 billion of outstanding offshore debt, for its restructuring proposal. The company is aiming to restructure $7.56 billion of its total offshore debt, while also seeking to relieve creditors of an additional $476 million offshore debt under separate financing instruments.
Earlier in the process, on January 6, 2025, Logan Group revised its term sheet for the $8 billion offshore debt restructuring, reducing the amount of debt eligible for cash payouts. Under the updated plan, holders of existing offshore notes were offered four options, including receiving $15 cash for every $100 of bond principal with accrued interest waived. The recent approvals, both onshore and offshore, signal a major step forward for Logan Group as it navigates the property crisis that has affected many Chinese developers since 2021.
