Longfor has formulated repayment plan for 23 bn yuan debt due next year – analysts
STOCKS
Longfor has formulated repayment plan for 23 bn yuan debt due next year – analysts
STOCKS

Longfor has formulated repayment plan for 23 bn yuan debt due next year – analysts

 

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Chinese private-run property developer Longfor Group is said to have told analysts that it has formulated a clear repayment plan for its about 23 billion yuan of debt due next year, according to a research note by Jefferies.

The management expected its net cash inflow of about 2 billion yuan a month to basically cover debts due in the near future, supported by contracted sales and loans for shopping mall opera>tions, according to the the note.