Xuhui Holding Group (00884) announced the progress of a comprehensive solution to the overseas liquidity situation. It has worked with bondholders...
According to Zhitong Finance App News, Xuhui Holding Group (00884) announced the progress of a comprehensive solution to the overseas liquidity situation. It has reached an agreement with the bondholders' group on the principle of a comprehensive proposal. Based on the information currently available to the company, the holders forming the bondholders' group collectively hold or control about 43% of the total principal amount of the company's senior notes, perpetual securities and convertible bonds. This is a major milestone in the company's implementation of the proposal, and the company would like to thank the Coordinating Committee, the bondholders' panel and their advisors for their continued support and participation in the company's current work.
Currently, no creditors are initiating legal proceedings against the company.
As of the date of this announcement, the Company is still in negotiations with the Coordinating Committee and the Bondholders' Group on the final terms of the proposal, and the parties have yet to enter into any legally binding agreement on the relevant terms.
As of the date of this announcement, the group has 68 projects on the “white list” of real estate projects across the country, and most projects have begun to meet financing needs with financial institutions. Among them, 23 projects located in cities such as Beijing, Guangzhou, and Xiamen have received support from many state-owned and joint-stock banks by adjusting repayment nodes, reducing interest, and replacing existing financing. Wuhu Golden Impression is the Group's first “white list” project approved for additional financing. The approved amount is RMB 150 million, and loans will be made according to the construction progress of the project.
So far this year, the group and its joint ventures and joint ventures have delivered more than 13,000 property units, and won the “2024 Top 8 Real Estate Development Enterprise Delivery Capabilities” issued by the China Real Estate Association and Shanghai Yiju Real Estate Research Institute.