R&F Properties is said to be trying to capitalize on the positive sentiment in overseas markets where some of its projects are located. The developer is marketing its projects in London, Australia, Malaysia and Cambodia in an effort to take advantage of buoyant market conditions in these places. If successful, this could help bring in much needed relief to its operations and improve creditworthiness amid the property sector downturn in China. R&F Properties is currently in distress after having just avoided default with a $4.9bn debt restructuring. Over the past 18-months, the developer has been disposing assets in China and overseas to generate cashflows.
Its dollar bonds are trading at deeply distressed levels of 8-12 cents on the dollar.
For more details, click here