CIFI Group Co., Ltd. Considers Asset-Based Debt Settlement for Corporate Bonds

Reuters
23 May
CIFI Group Co., Ltd. Considers Asset-Based Debt Settlement for Corporate Bonds

CIFI Group Co., Ltd., a wholly-owned subsidiary of CIFI Holdings (Group) Co. Ltd., has announced plans regarding its corporate bonds issued onshore and listed on the Shanghai Stock Exchange. The company intends to manage its debt by offering bondholders an option to settle via assets. Specifically, CIFI PRC proposes to entrust certain assets along with corresponding income rights held by its indirectly controlled subsidiary to a trust company, establishing a service trust. Bondholders opting for this settlement method can exchange their bonds for trust shares at a discount, with a nominal value of RMB100 being exchanged for a trust share worth up to RMB35. This initiative is part of CIFI PRC's broader strategy to optimize its financial structure, with an estimated maximum principal amount of RMB6 billion being accepted under this option.

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