VPower Group (HKG:1608) said it was seeking court approval to hold a meeting with creditors on a restructuring plan, according to a Wednesday filing with the Hong Kong bourse.
The distributed power provider plans to hold a meeting with lenders on Aug. 21 after the longstop date of its previously proposed offshore debt restructuring lapsed.
The restructuring agreement, signed in November 2025, covered about HK$2.08 billion in offshore debt and included plans to extend remaining maturities by 5.5 years from Sept. 2, reduce interest rates and waive certain existing breaches.
Upon completion, the offshore debt would have been reduced to a restated principal of about HK$1.38 billion.
VPower said no definitive agreement had been reached with lenders or any relevant creditor on the restructuring.