Nezha Auto debt-to-equity swap fails

2025-05-29 22:47:43

According to 21 Finance, Nezha's plan to "swap debt for equity" to reduce debt in order to obtain new financing has failed. Nezha Automobile owes suppliers a total of about 6 billion yuan, and it was originally planned that only half of the debt, or 3 billion yuan, would be resolved before investors were willing to provide new funds. However, people familiar with the matter revealed that suppliers willing to accept the "debt-for-equity" plan can only help Nezha resolve debts of just over 2 billion yuan, "and the remaining several hundred million yuan is really too much to chew."

Neta Auto

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