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BRIEF-Luckin Coffee Enters into Restructuring Support Agreement

· 03/16/2021 08:59
BRIEF-Luckin Coffee Enters into Restructuring Support Agreement

- Luckin Coffee Inc LC0Ay.MU:

  • LUCKIN COFFEE ENTERS INTO RESTRUCTURING SUPPORT AGREEMENT WITH HOLDERS OF A MAJORITY OF EXISTING NOTES TO RESTRUCTURE INDEBTEDNESS AND ENHANCE CAPITAL STRUCTURE

  • LUCKIN COFFEE INC - NOTEHOLDERS ARE EXPECTED TO RECEIVE APPROXIMATELY 91-96% OF PAR VALUE OF EXISTING NOTES

  • LUCKIN COFFEE INC - COMPANY ACTIVELY PURSUING SEVERAL OPTIONS TO ACHIEVE CERTAINTY OF FUNDING

  • LUCKIN COFFEE - UNAUDITED CONSOLIDATED CASH BALANCE, EXCLUDING RESTRICTED CASH AND ILLIQUID INVESTMENTS, AMOUNTS TO ABOUT $775 MILLION AS OF FEB 28, 2021

  • LUCKIN COFFEE - PRESENTLY ENGAGED IN EXCLUSIVE DISCUSSIONS FOR 30 DAYS WITH CREDIBLE INVESTOR, TO RAISE AT LEAST $250 MILLION OF EQUITY FUNDING THROUGH PRIVATE PLACEMENT

Source text for Eikon: ID:nGNX4kW53b

Further company coverage: [LC0Ay.MU]


((Reuters.Briefs@thomsonreuters.com;))