Zhenro Properties looks to be unable to repay 9.15% notes due 2023

By Marisa Wong

Los Angeles, May 5 – China’s Zhenro Properties Group Ltd. said it does not expect to be able to pay the outstanding principal amount of $300 million and the accrued interest due on its 9.15% senior notes.

The notes have a maturity date of May 6, 2023.

As of May 4, liquidity remains tight, and various tasks related to the company’ offshore holistic liability management solutions and communication with offshore creditors are still ongoing, the company reported.

The notes will be delisted from the Stock Exchange of Hong Kong Ltd. on May 6.

After the delisting, noteholders requiring further information in relation to the notes may contact the company at Room 3201, 32/F, China Resources Building, 26 Harbour Road, Wanchai, Hong Kong, or ir@zhenro.com.

Zhenro is a Shanghai-based real estate developer.

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