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The ad hoc group of creditors that signed a binding restructuring support agreement represents 46 percent of the senior debt.
A $2 billion bank fraud at Punjab National Bank (PNB) and rising bankruptcy cases have rocked the South Asian nation this year.
This paves the way for an investor to take a controlling stake in the company.
This is Tencent’s biggest US dollar offering and the first time its issued debt since 2015.
The stock was halted at 38 Singapore cents, 2.6 percent lower, after the Hong Kong-based company’s announcement, which was released just after midday in the city-state.
Concerns are rising that undeserving companies are benefiting while households are getting saddled with risks.
Mitsubishi UFJ Financial Group Inc. is said to be arranging the credit facility
The co traveled to Hong Kong, London and Singapore for the fundraising,
A boardroom battle drags on at Yingde Gases Group Co.
China City Construction Holding Group Co. will redeem its 2.5 billion yuan ($382 million) offshore yuan bond before maturity on June 20 after a change of control clause was triggered.