Zhenro Properties’ bonds declined further as it seeks maturity extension, controller sold 63 million shares last week
STOCKS
Zhenro Properties’ bonds declined further as it seeks maturity extension, controller sold 63 million shares last week
STOCKS

Zhenro Properties’ bonds declined further as it seeks maturity extension, controller sold 63 million shares last week

 

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Embattled Zhenro Properties Group Ltd.’s dollar bonds continued to fall on Tuesday as the developer’s plan to extend maturities on about $1 billion of debt increased market concerns about its financial health.  

The company announced an exchange offer for its offshore and onshore notes due 2022, saying in an exchange filing late Monday that it may not have enough capital to meet its obligations.

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