Feb 19, 2022 04:58 AM

Chinese Developer Zhenro Says Funds Insufficient to Pay March Debt

(Bloomberg) — Chinese developer Zhenro Properties Group Ltd. said its existing internal resources may be insufficient to meet debt payment obligations next month, according to a filing with the Hong Kong Stock Exchange.

The Shanghai-based developer is soliciting creditors’ consent “to certain proposed waiver and amendments” to help improve its overall finances and give it stability, the company said late Friday in the filing. Zhenro is China’s 30th largest builder by contracted sales in 2021, according to China Real Estate Information Corp.

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