Regional Express Holdings Ltd (ASX:REX) Announces Debt Assignment
Debt Assignment Details
Regional Express Holdings Ltd (ASX:REX) has announced that the Commonwealth of Australia will acquire a portion of its outstanding debt from PAGAC Regulus Holding Pte. Ltd (PAG) for A$50 million. This transaction, set to complete on 23 January 2025, will position the Commonwealth as the largest secured creditor of the Rex Group, while PAG will continue to hold a minority secured creditor status.
Administration Context
The debt assignment is part of the ongoing administration process, following the appointment of administrators from Ernst & Young for the Rex Group companies. This includes Regional Express Holdings Limited and its subsidiaries, which have been placed into administration.
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