Chinese real estate developer Shimao Group Holdings will hold meetings with investors in two asset-backed securities (ABS) on Jan. 17, to vote on proposals for extension of payments, according to documents obtained by Reuters.
Payments on the two ABS products – worth a total of 1.17 billion yuan ($ 183.91 million) – are due this month, and Shimao is looking to extend payment terms until the end of 2022, according to the documents, which have been confirmed by sources. (Reports by Chi Xue and Clare Jim; Supplementary Reports by Samuel Shen; Editing by Shri Navaratnam).