China Real Estate Jinhui Holdings (Group) Co., Ltd., which has received guarantee support in the domestic market, failed to pay a expired US dollar bond on time.
According to Bloomberg report, Jinhui Holdings announced on Wednesday (March 20) on the Hong Kong Exchange that the total principal of the 2024 notes has not been paid for the total amount of 300 million US dollars (about S $ 400 million).Express on March 20, with a ticket interest of 7.8%.
According to the previously issued bond raising instructions, this bond due to the expiration of failure will constitute a breach of contract on time.
Announcement stated that the company is actively working hard to resolve and maintain positive communication with the holders of the bills and seek the best solution.The company also said that with the in -depth adjustment of the real estate market, the Group's sales voltage voltage significantly and have taken a number of response measures; at present, the operations of various businesses have remained normal, and they will go all out to ensure the smooth progress of delivery.
Bloomberg's summary data shows that the US dollar bonds fell twice to each USD 50 at the end of January and early March this year, and then rebounded.Beauty.
The real estate development business controlled by private enterprise Jinhui started in Fujian Province.In the past two years, its company has issued several notes that have been guaranteed by China Debt Credit. Through such financing support, Jin Hui has become one of the few real estate companies that can still issue debt in the first market.
It is reported that China's house prices continue to fall in February, showing the challenges facing the government's stable property market.At the China Credit Market Forum held in Hong Kong on Wednesday, Cai Qihua, who is responsible for investing in special opportunities for Greater China and North Asia, said that China's real estate crisis "has no way to resolve quickly", and the overall emotions of investors are still pessimistic.
