Rongxin announced two US dollar debt interest overdue to actively promote debt management

21st Century Business Herald reporter Tang Shaokui Shanghai report

On July 10, Rongxin China (03301.HK, referred to as "Rongxin") announced that the company faced two US dollar bonds for a total of about 28 million US dollars interest, which could not complete the payment within 30 days of width.

According to disclosure, Rongxin issued a US dollar bond (XS2090949160), which expired in June 2023, issued in the New Stock Exchange in June 2023. At present, a amount of US $ 12.798 million has been copened on June 9, 2022. During the 30 -day width period, Rongxin has not paid the relevant funds; another US dollar bond (XS2189303873) with a rate of 7.35%in December 2023 (XS2189303873) currently has a amount of 15.0675 million US dollars. If it matches the date, Rongxin has not been able to pay the interest within 30 days of width.

Rongxin admits that the group operations are under tremendous pressure, and contract sales have fallen significantly. As of June 30, 2022, the sales amount of Rongxin's total contract is about 38.7 billion yuan, a decrease of 53% year -on -year decreased by 53% Essence

It can be seen that the third -party bond tools can be seen that Rongxin currently has 6 US dollar bonds in circulation, with a duration scale of 2.261 billion US dollars, and only one expires on October 25 this year. The size of the bonds is 688 million yuan. Pen, 6 of which company debt and 4 private offerings. In July, Rongxin Sanbi corporate debt faced interest.

Faced with the upcoming debt repayment peak, Rongxin had to take the initiative to conduct debt management and change space at time. In early July, Rongxin just carried out the exhibition period of the two corporate bonds "19 Rongxin 01" and "19 Rongxin 02" and paid interest.

For a long time, Rongxin released information about active debt repayment, and stated that it is necessary to try its best to ensure the company's operation of health and stability, and actively ensure the delivery of projects. Since the second half of 2021, the company has accumulated a total of nearly 30 billion yuan in net paid open bonds and various types of interest debt and related interest.

The good news is that, like most housing companies, the sales of Rongxin contract have rebounded sharply. In June, the sales of Rongxin contract were about 9.1 billion yuan, and the contract sales of about 5.1 billion yuan in May were rose by about 78%. In addition to waiting for sales to continue to warm up, only waiting for private enterprises to "break the ice" and actively manage the debt repayment rhythm.

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