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Wanda Properties’ dollar bonds jumped by over 20 points across the curve as the company averted an immediate $4bn repayment to pre-IPO investors in its mall unit after reaching an agreement. According to the company’s statement, Dalian Wanda Commercial Management and PAG Investment Group signed a new investment agreement, through which PAG and other investors’ stake will increase to 60% in the Zhuhai mall unit. Wanda’s founder and Chairman Wang Jian’s stake will be reduced to 40% from 78%. Separately, Wanda Properties said that its extraordinary resolution for the 7.25% 2024s was passed at a with the consent fees and ineligible bondholder payments to be paid on or around December 18. This comes after the company asked holders to extend the maturity on the 7.25% bonds due 29 January 2024 by eleven months to 29 December 2024 in late-November.