On May 23, Jinke Property Group Co.Ltd(000656) ( Jinke Property Group Co.Ltd(000656) . SZ) announced that it planned to hold the first bondholders’ meeting of “20 Jinke 03” in 2022 from May 26 to 27 to consider the proposal to adjust the payment arrangement of bond principal and interest and increase the guarantee measures for credit enhancement.
According to the announcement, Jinke Property Group Co.Ltd(000656) plans to adjust the principal payment time of “20 Jinke 03” bonds to 12 months from May 28, 2022, and the accrued interest accumulated in the past year will be paid in one time on the original maturity date. At the same time, the company will add 70% of the equity of Tianjin tianhuanyuan and Tianhu square project, 30% of the equity of Changsha Jinke Jimei Tianchen project and all the income corresponding to the above equity as pledge to increase credit, so as to better protect the interests of all holders.
Jinke Property Group Co.Ltd(000656) said that the company’s arrangement is to alleviate the current liquidity pressure and seek debt operation balance. The company will strictly implement and implement the debt repayment plan and will never evade or abolish debts. At present, it is only facing periodic liquidity pressure. For some time to come, the company will take “guaranteed delivery” as the first priority. As the company’s financing cash flow outflow gap gradually shrinks, more funds will be used at the project level to ensure that Jinke’s product strength is not discounted, project delivery is not discounted, the interests of owners are not damaged and Jinke’s brand is not damaged.
According to Jinke, Jinke is still making efforts in various channels. In addition to close communication with AMC, partners and debtors to promote asset revitalization plans, we also actively introduce state-owned strategic investors.
As of the closing on May 23, Jinke Property Group Co.Ltd(000656) share price was reported at 3.43 yuan / share, with a total market value of 18.315 billion yuan.
