Market Chatter: Jinke Gearing Up for Court-Supervised Onshore Debt Restructuring

MT Newswires Live2024-11-26

Jinke Property (SHE:000656) is preparing for a court-supervised onshore debt restructuring in weeks, which would see the Chinese developer pay as much as 50,000 yuan per bondholder, Bloomberg News reported Monday, citing people familiar with the matter.

The builder will repay the remainder of its liabilities through debt-to-equity swaps and a trust product, among other options, the report said.

If Jinke's plan succeeds, it would be the only big developer to complete a debt restructuring since China's property sector collapsed three years ago, according to the report.

Jinke did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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