B · Normal
[Rongsheng Development: Plans to restructure 3.852 billion yuan of debt] On October 19, Rongsheng Development (002146.SZ) announced that the company planned to negotiate with the underlying bond holders to restructure the debt of four bonds including 20 Rongsheng Real Estate MTN001 by using part of the principal to pay off the debt in kind and exempt interest. The outstanding principal balance of the underlying bonds is 3.852 billion yuan, the interest is approximately 1.2 billion yuan, and the appraised value of the foreclosed assets is 38.8983 million yuan. This reorganization still needs to be reviewed and approved by the shareholders’ meeting and the bondholders’ meeting.
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