Guangzhou R&F is seeking to offload a UK asset in the latest attempt to trim its debt burden. It is turning to Hong Kong tycoon Cheung Chung Kiu to survive the crisis.
R&F s Shares Plunge Despite Chinese Developer Denies It Is Facing Bankruptcy yicaiglobal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yicaiglobal.com Daily Mail and Mail on Sunday newspapers.
Guangzhou R&F Properties said in a filing with the Hong Kong exchange on Thursday that it was in discussions with two creditors that have sought to wind up the developer over debts worth about 20 million yuan.
Guangzhou R&F Properties is seeking investors’ consent to extend the maturity dates of 10 of its offshore bonds worth US$5.16 billion due between now and 2024, to avoid defaults.