Sweden's Oscar Properties inks deal with creditor
Oscar Properties, a real estate business in Sweden, stated in a statement that it intends to negotiate an agreement with its primary bond holders over debt repayments and the withdrawal of a bankruptcy filing, which caused its share price to soar. The interim deal states that properties owned by the group's HL 18 subsidiary, either directly or indirectly, would be sold. The revenues will be used to pay off debt, with any money left over to be handed to the firm. Oscar Properties stated that non-priority creditors will have the option to convert their claims into shares.
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