Chinese developer Xinyuan climbs on avoiding default

Xinyuan Real Estate Co

15/10/2021 13:11

** U.S.-listed shares of Chinese real estate co Xinyuan
 XIN.N  up ~8.5% at $1.28 premarket 
    ** Shares set for best session in four months after XIN
avoided default on a maturing dollar bond  urn:newsml:reuters.com:*:nL1N2RB0KD 
    ** Chinese homebuilders have been grappling with the fallout
from struggles at China Evergrande Group  3333.HK  
    ** XIN's bondholders have agreed to an offer to accept new
bonds and cash in exchange for maturing notes - developer
    ** More than 115,557 shares traded - ~50% of XIN's 25-DMA
volume
    ** Up to Thursday's close, stock had fallen 50.2% in the
last 30 days and 46.4% this year
    ** XIN set for its worst weekly performance ever 

 (Reporting by Bansari Mayur Kamdar)
 ((BansariMayur.Kamdar@thomsonreuters.com;))