{"id":1687414,"date":"2022-10-13T02:51:02","date_gmt":"2022-10-13T06:51:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1687414"},"modified":"2022-10-13T02:51:11","modified_gmt":"2022-10-13T06:51:11","slug":"chinas-cifi-misses-offshore-interest-payments-due-to-remittance-delay","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chinas-cifi-misses-offshore-interest-payments-due-to-remittance-delay\/","title":{"rendered":"China\u2019s CIFI misses offshore interest payments due to remittance delay"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fchinas-cifi-misses-offshore-interest-payments-due-to-remittance-delay%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1687414&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>HONG KONG (Reuters) \u2013     Shanghai-based property developer CIFI Holdings said in a Thursday filing it did not meet certain offshore scheduled interest and amortisation payments due to delay in remittance during an extended holiday in mainland China. <\/p>\n<p>It has been engaging with relevant creditor groups to reach consensual solutions, it said, but warned that if it does not meet its offshore debt obligations or is unable to implement appropriate solutions, events of default may occur which could lead to other creditors requesting early redemption. <\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>Analysts said the debt is a HK$2.5 billion ($319 million) convertible bond with an interest payment due on Oct. 8. The 6.95% bond was issued in April this year. <\/p>\n<p>CIFI had been considered a better-quality private developer and reports of it coming under a financial crunch have shocked the market, raising worries that others including top player Country Garden could also get into repayment troubles and further deepen the debt crisis in the sector. <\/p>\n<p>Shares of CIFI slid 8.6% as of 0558 GMT, and Country Garden lost 7.8%.<\/p>\n<p>CIFI said in its filing conversations with its creditor groups were constructive and progressing towards consensual solutions. It said its commercial operations remain normal.<\/p>\n<p>($1 = 7.8493 Hong Kong dollars)<\/p>\n<p> (Reporting by Clare Jim; Editing by Tom Hogue)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/chinas-cifi-misses-offshore\/attachment\/man-and-a-child-walk-by-a-construction-site-under-3\/\"><img decoding=\"async\" src=\"https:\/\/c3.oann.com\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2022binary_LYNXMPEI9C0A5-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI9C0A5-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>HONG KONG (Reuters) \u2013 Shanghai-based property developer CIFI Holdings said in a Thursday filing it did not meet certain offshore scheduled interest and amortisation payments due to delay in remittance<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1687414","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1687414","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1687414"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1687414\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1687414"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1687414"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1687414"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}