China Huiyuan Juice Group Ltd. proposed to pay the lending banks $1.25 million, or 0.5 percent of a $250 million loan in exchange for their waivers of the covenants that it breached, it said in a statement to the Hong Kong stock exchange today. It is also seeking to amend the financial ratios, it added.
Shares of China Huiyan were suspended from trading in Hong Kong on Sept. 10. The company has applied for its shares to resume trading at 9:30 a.m. tomorrow, according to the statement.
To contact the reporter on this story: Bei Hu in Hong Kong at firstname.lastname@example.org