Chinese developer R&F says short of funds to settle bond tender offer


HONG KONG: Chinese developer Guangzhou R&F Properties said it did not have sufficient funds to buy back a $725 million bond as sales of its assets had not come through as planned.

It said in a filing late on Wednesday that the funds available to settle its tender offer for the offshore bond was materially less than the $300 million it previously expected, due to continued volatility in the property sector.

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China , R&F Properties , bond ,

   

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