Chinese Property Developer Logan Seeks to Extend Maturity of Offshore Bonds, Sources Say
Chinese property developer Logan Group Co. Ltd. is in talks to extend the maturities of its offshore debt amounting to hundreds of millions of dollars, several sources with knowledge of the matter told Caixin, the latest indication of distressed finances among developers as a growing number of defaults hit the debt-laden real estate sector.
If it can’t get offshore bondholders to approve the extensions, the company plans to undertake debt restructuring, the sources said. The company is seeking an extension of between four and seven years, one institutional investor said.
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