Jinhui Holdings (09993) issued an announcement regarding 7.8 billion US dollars issued by the company due in 2024...
Zhitong Finance App News, Jinhui Holdings (09993) issued an announcement regarding the US$300 million 7.8% Priority Green Notes due in 2024 (“2024 Notes”) issued by the company. According to the terms of the 2024 notes, all outstanding principal amounts of the 2024 notes and any accrued and unpaid interest will be due and payable on the due date of March 20, 2024. As of the date of this announcement, the total outstanding principal amount of the company's outstanding payments was US$300 million. The Group is also actively working to resolve and maintain active communication with note holders and seeking to implement the best solutions to ensure that the interests of all stakeholders are protected.
The announcement said that starting in 2023, the Group's sales were clearly under pressure due to deep adjustments in the Chinese real estate market. In a situation where the sales environment in the industry has not improved significantly, in order to ensure the orderly delivery of projects and timely payment of debts, the Group has taken a number of countermeasures, including but not limited to speeding up property sales, repayment, and streamlining production costs.
As of the date of this announcement, all business operations of the Group have remained normal. The Group will continue to adhere to its responsibilities and make every effort to ensure the smooth progress of delivery work, speed up property sales, and stabilize business operations. At the same time, the Group is taking strict measures to reduce costs and increase efficiency, reduce non-core and non-essential operations and expenses, and maintain cash flow balance.