Grace Life-Tech Holdings Advances Debt Restructuring, Secures US$9.9 Million Interest Waiver Amid Ongoing Insolvency Proceedings
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Grace Life-Tech Holdings Limited is advancing its debt restructuring efforts amid ongoing insolvency proceedings. The company is working on a comprehensive proposal that includes debt compromise and debt-to-equity conversion for creditors. Notably, it secured a US$9.9 million interest waiver from a lender. Additionally, Grace Life-Tech is implementing cost-control measures, including workforce optimization and suspension of capital expenditure. Discussions with a private equity fund and other financial institutions are planned for late 2025.
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