Property developer Longfor Group repaid bond, syndicated loan in advance – report

 

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Longfor Development Company, a subsidiary of property developer Longfor Group, has transferred 1.7 billion yuan for repayment of the onshore bond due on August 17, 2023, Chinese news media Cailianshe.

After the repayment, the developer has only one onshore bond worth 119 million yuan due this year, which will mature in November 2023, the report said.

In addition, Longfor has repaid HK$7.2 billion in advance for the HK$15.3 billion syndicated loan due in January 2024 and the company plans to repay the rest of the loan in advance within the year, the report said. 

State-run newspaper China Securities Journal confirmed the report citing people familiar with the matter.