Luckin Coffee Enters Restructuring Pact With Noteholders

Luckin Coffee says it has entered a restructuring support agreement with holders of most of its $460 million 0.75% convertible senior notes due 2025.

• Noteholders seen receiving about 91-96% of par value
• Luckin says it’s actively pursuing options to achieve certainty of funding
• Luckin Coffee will seek support for the RSA from additional holders of the notes
• Luckin says its stores remain open for business, and says the company is paying suppliers, vendors and employees
• NOTE: Feb. 5, Luckin Coffee Files for Chapter 15 Bankruptcy in New York (1)

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