CIFI Group, a subsidiary of Chinese private property developer CIFI Holdings Group said that it will convene a bondholder meeting between August 30 and 31, concerning the onshore bond due September 2025, with a coupon rate of 3.9%.
The company will seek the bondholders’ consent to postpone the repayment date of the bonds to September 14, 2026, and to make payments in instalments for the principal and corresponding interests of the bonds between September 2023 and September 2026, it said. The outstanding amount of bond is 1.875 billion yuan.
The company will implement credit enhancement measures, using equity interests in several project companies as collaterals, it said.