In an update to its debt restructuring, R&F Properties has extended the maturity of eight of its onshore bonds by three years, from the prior four months. This following the developer obtaining consent to extend the maturities on 10 of its dollar bonds with a combined principal of $4.9bn, in July. In an effort to repay its dollar debts, the company has sought to debt restructuring as well as asset sales with the latest being the sale of its Wanda Realm Beijing hotel to Beijing Yingxie Property Investment for RMB 550mn ($79.3mn).
R&F’s 7.5% dollar bonds due 2027 were trading flat at 10 cents on the dollar.
