Greenland Hong Kong plans to repay its 9.625% dollar bond due June 3, according to sources. Bloomberg reports that the repayment plan follows the unit’s repurchase of 12% of the bonds when prices were at a “sizable discount to face value, helping it save money on repayment”. The bond has an amount outstanding of $131.5mn after the most recent repurchases. The bond is trading at 99 cents on the dollar. The unit added that it wants to avoid a cross-default event and even intends to repay its 7.974% bonds due August on time.

Separately, Shimao Group and its onshore unit will meet with investors June 16 to seek approval to further extend repayment of an RMB 450mn ($67mn) ABS tranche by seven months.

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