HomeBusinessOne More Developer Seeks to Extend Debt Due: Evergrande Update - Bloomberg...

One More Developer Seeks to Extend Debt Due: Evergrande Update – Bloomberg Law

By Beth Thomas
Another Chinese real-estate company is seeking a debt extension to avoid a payment failure as shockwaves from a credit crunch continue to reverberate through the country’s property sector.
Guangzhou R&F Properties Co. is asking holders of a $725 million dollar note maturing Jan. 13 to extend the due date by six months, and is offering to buy back some of the debt at a discount. If the proposals aren’t backed, the company said it might not be able to fully pay off the note. The news comes as Shimao Group Holdings Ltd.’s dollar bonds sank to all-time lows despite assurances …

To read the full article log in.
Learn more about a Bloomberg Law subscription.

source

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

spot_img