Agile Group’s dollar bonds rose by over three points after reports that it made repayments on two of its outstanding loans. While details of the loans are not available, Bloomberg notes that the repayments have eased the developer’s cash flow mismatch.
Separately, Evergrande Real Estate is asking holders of its RMB 4bn ($600mn) 5.9% puttable bond due 2022, to approve a six-month principal and coupon payment extension. Bloomberg notes that if bondholders do not approve the extension, the developer is supposed to pay both principal and coupon on May 26. In similar news, Shanghai Shimao, a unit of Shimao Group Holdings, got bondholders’ approval to delay repayment of an RMB 500mn ($75mn) bond due May 22 for a year.