Chinese developer Yuzhou Group likely to delay US$105m worth of bond payment
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[BENGALURU] Chinese developer Yuzhou Group Holdings said on Monday there is no guarantee it will be able to pay some bondholders the remainder of its 2022 notes, days after it extended maturity on the two US dollar notes for 82 per cent of the debtors.
The property developer said in a statement that it will not be able to repay US$104.9 million worth of notes maturing on Tuesday, which are held by debtors who could not make the submissions for the exchange offer in time.
It added that it was working towards re-launching its earlier exchange offer for the remainder of the bondholders and intended to maintain active dialogue with them.
REUTERS
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