Guorui finds lifeline ahead of bond put

Survival
By Addison Gong
13 Mar 2019

Chinese developer Guorui Properties is on track to redeem a puttable dollar bond later this month after pricing a new $295m transaction, bringing an end to debt refinancing woes that have lasting for months.

“The time left for refinancing is running out for China-based developer Guorui Properties,” S&P Global ratings, which rates the company at CCC, wrote in a report at the start of the month.

At the time, Guorui had just completed the issuance of a $160m offshore bond ...

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