Builder CIFI Proposes Key Debt Terms With as Much as 85% Haircut

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Builder CIFI Proposes Key Debt Terms With as Much as 85% Haircut
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Distressed developer CIFI Holdings Group Co. said it has reached an agreement with a key creditor group on some terms of a restructuring plan that could cut the principal on its debt by as much as 85%, a reversal from the company’s expectations of “no haircut” a year ago.

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