Brief: China Aoyuan Has Been Actively Exploring Potential Opportunities Of Asset Disposal

China Aoyuan

19/01/2022 15:05

Jan 19 (Reuters) - China Aoyuan Group Ltd  3883.HK :
    * COMPANY HAS BEEN ACTIVELY EXPLORING AND WILL CONTINUE TO
EXPLORE
POTENTIAL OPPORTUNITIES OF ASSET DISPOSAL
    * UNAUDITED PROPERTY CONTRACTED SALES OF APPROXIMATELY
RMB121.03
BILLION FOR YEAR, DOWN 9%
    * ANY SUCH DISPOSAL OR INVESTMENT IS INTENDED TO CREATE
LIQUIDITY
FOR, AND ALLEVIATE OR RESOLVE DEBT ISSUES OF, GROUP
    * NO LEGALLY BINDING AGREEMENT HAS BEEN ENTERED INTO BETWEEN
GROUP
AND ANY OF SUCH POTENTIAL INVESTORS REGARDING ASSET DISPOSAL
    * WILL NOT MAKE PAYMENTS OF REMAINING PRINCIPAL AND LAST
INSTALMENT OF INTEREST OF JANUARY 2022 NOTES ON RESPECTIVE
MATURITY DATES
    * INTENDS TO ADOPT SAME PRINCIPLE IN RESPECT OF ITS OTHER
OFFSHORE
FINANCIAL INDEBTEDNESS
    * EVENTS OF DEFAULT WILL OCCUR (OR HAVE OCCURRED) UNDER ALL
OTHER
OFFSHORE FINANCIAL INDEBTEDNESS OF GROUP
    * IS OPTIMISTIC ABOUT LONG-TERM OUTLOOK OF GROUP AND WILL
CONTINUE
TO EXPLORE POSSIBILITIES OF IMPROVING GROUP'S LIQUIDITY POSITION

Further company coverage:  3883.HK 

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