If the Guangzhou-based developer fails to get the bondholders’ approval, it said it will resort to restructuring its debt according to proposed terms already circulated to them. Photo: SCMP Pictures
If the Guangzhou-based developer fails to get the bondholders’ approval, it said it will resort to restructuring its debt according to proposed terms already circulated to them. Photo: SCMP Pictures

China’s property crisis: Debt-laden Guangzhou R&F Properties seeks extension on 10 offshore bonds worth US$5.16 billion

  • The developer is seeking investors’ consent to extend the maturity dates of the bonds to avoid default
  • The company’s property sales tumbled 58.4 per cent year-on-year in the first five months of 2022

If the Guangzhou-based developer fails to get the bondholders’ approval, it said it will resort to restructuring its debt according to proposed terms already circulated to them. Photo: SCMP Pictures
If the Guangzhou-based developer fails to get the bondholders’ approval, it said it will resort to restructuring its debt according to proposed terms already circulated to them. Photo: SCMP Pictures
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