Union Properties has announced the successful completion of a US $162mn debt restructuring, which includes the repayment of $60.7mn to lenders, as part of a comprehensive restructuring plan agreed by all parties. According to a statement from Union Properties, the restructuring marks a major milestone in the developer’s turnaround strategy, which was announced during the first quarter of 2022. Following the restructuring, the developer will benefit from significantly improved profitability and cash flow generation, as the agreed plan effectively reduces financing costs. Additionally, the strengthened balance sheet means the company will be able to raise additional financing for future real e
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