China’s Xinyuan Real Estate fails to repay notes in full at maturity

By Marisa Wong

Los Angeles, July 19 – Xinyuan Real Estate Co., Ltd. announced it has not made payments in full for its senior notes issued on July 3 and Aug. 6, 2020 at their maturity on June 29, 2022, according to a press release Tuesday.

The total amount due and payable, including principal and interest, under the Regulation S notes is RMB 545.3 million.

The company said it has been in negotiation with the sole beneficial holder of the notes, who is a third party, with a view to resolving the matter soon.

The company has also engaged Alvarez & Marsal Corporate Finance Ltd. and Latham & Watkins LLP to advise on its related debt matters.

The Beijing-based real estate developer operates primarily in China but recently also in other countries.

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