Shares of Agile Group (03383) surged more than 10% in afternoon trading, rising 10.57% as of press time to HK$0.136, with a turnover of HK$1.0396 million.

On October 5, Agile Group announced significant progress in its offshore debt restructuring. As of the announcement date, the company and the coordinating committee were close to finalizing negotiations and documentation for a term sheet and a restructuring support agreement setting out the restructuring terms. Thereafter, the company and the coordinating committee intend to publish the restructuring support agreement within six weeks from the announcement date. The coordinating committee collectively holds approximately 61.5% of the total outstanding principal amount of the existing syndicated loans. The plan involves financial indebtedness with a total principal amount of approximately US$5.183 billion, including US$975 million in outstanding principal under existing syndicated loans, US$1.747 billion in outstanding principal under senior notes, US$1.9 billion in outstanding principal under perpetual securities, US$308 million in outstanding principal under exchangeable bonds, and US$252 million in outstanding principal under other liabilities.