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Wanda Meets Local Bond Payments, Say Sources
September 11, 2023
Dalian Wanda is said to have paid the interest and principal on a local yuan denominated bond, as per sources. The news is a positive update on the company given its liquidity challenges. The bondholders of almost all of the RMB 3.8bn ($517.4mn) note demanded early repayment, bringing forward the due date for the principal to September 11 from the original maturity of 2025. Earlier last month, Wanda said that it has sufficient funds to service subsequent coupon payments due in the short-term after it made a dollar bond coupon within its 10-day grace period deadline.
Wanda’s dollar bonds were trading slightly weaker with its 7.25% 2024s down 0.2 points to 66.96 cents on the dollar.
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