Reported about 5 hours ago
Dalian Wanda Commercial Management Group is seeking to extend the maturity of its $400 million bonds from January 2025 to January 2026 due to liquidity challenges stemming from China's property market downturn. The company plans to hold a bondholder meeting on December 17 to obtain approval for amendments aimed at easing immediate financial pressures and managing its debt repayment schedule more effectively. The proposed changes include a mandatory redemption of 25% of the bond principal on January 20, 2026.
Source: YAHOO