The largest -scale housing company Country Garden, China's largest crisis since its establishment, opened the prelude to debt reorganization and announced that 11 Chinese company bonds will be suspended from Monday (August 14).Essence
According to Surging News, Country Garden announced the decision on Saturday (August 12).
The main body of debt issued this time is Country Garden Real Estate Group Co., Ltd. and Guangdong Tengyue Construction Engineering Co., Ltd.21, 21, 21, 21, 21, Bishidi 03, 21, Bisodi 04, 22 Bisadi 02 and 22 of Biguan 01, 21, 21, 21, 21, and 22 Bishidi 03, 20 Bidi 03, 20 Bidi 03, 20 Bi of Bigui Real Estate GroupDebt and a private equity debt 16, and a 16th Tengyue 02 issued by Tengyue Building.The announcement did not include overseas bonds.
According to statistics, the balance of the above 11 bonds above is about 15.702 billion yuan (RMB, the same below, about S $ 2.93 billion).Among them, the earliest date of the date is the private equity bond of 3.904 billion yuan, 16 Bidi 05, which will expire on September 2nd; it will also include 21 Bidi 04 and 20 Bidi 03 in September, with the balance of 1.435 billion, respectively.Yuan and 2 billion yuan.
While announced the suspension, Country Garden stated in the announcement that in the face of industry difficulties, the main company and Country Garden themselves have always resolutely compass their responsibilities, coordinate the resources of all parties, go all out to protect the delivery, insurance operations,EssenceSubsequent companies will continue to steadily promote various business strategies and risk resolution measures to ensure the company's sustainable and healthy development and safeguard the legitimate rights and interests of investors.
Announcement stated that Country Garden will do its best to make sales, strive to revitalize precipitated assets such as hotels, office buildings, shops, etc., and at the same time strengthen internal management and control, further streamline the organization, reduce administrative management expenses, improve operating efficiency, and moreGood protection of the rights and interests of the stakeholders such as suppliers and partners.
Country Garden said that the group's net assets are currently sufficient and the soil storage is abundant. As of the end of 2022, the net assets were about RMB 309.6 billion, and the total equal equity sale resources were about 128.3 billion yuan.About RMB 955.5 billion in equity sale resources.
According to previous reports of Bloomberg and Reuters, Country Garden failed to pay two dollars on August 7, a total of USD 22.5 million (S $ 30.36 million) in debt interest rates, making market participants worry about itFalling into a liquidity crisis.
Then Country Garden issued an announcement on the Hong Kong Stock Exchange on Thursday (August 10) that it is expected that the company will have a net loss of 45 billion to 55 billion yuan in the first half of this year, and frankly "the company encountered self -containing self.The biggest difficulty since its establishment. "
