Wanda Unit Seeks Extension for $600 Million Dollar Bonds

By Wang Juanjuan, Niu Mujiangqu and Han Wei

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Since April, Wanda has stepped up asset sales, offloading cinemas, malls and hotels, to ease its liquidity crunch

The property management unit of Dalian Wanda Group Co. wants to push back the maturity of a $600 million bond by nearly a year, highlighting the property conglomerate’s deepening liquidity crunch.

Dalian Wanda Commercial Management Group Co. said Tuesday that it is seeking to delay the payment on the 7.25% note by 11 months due to liquidity pressures. The 10-year dollar-denominated notes, issued by its subsidiary Wanda Properties International Co., are set to mature on Jan. 29, 2024, Wanda Commercial, the guarantor of the bond, said in a filing to the Hong Kong stock exchange.