R&F Properties announces offshore debt restructuring update

Guangzhou R&F Properties (HKEX:2777) announced an update on its offshore debt restructuring, extending the accession deadline for creditors to 4:00 p.m. London time on May 16, 2025. Additionally, the company disclosed that the equity of a project company, used as credit enhancement for existing corporate bonds, has been frozen due to contract disputes involving its shareholder. Furthermore, the Guangzhou Intermediate People's Court has ruled that a collateralized property, Holiday Inn Guangzhou Airport Zone, will be auctioned with a starting price of RMB277,458,020; the hotel is valued at RMB396,368,600. R&F Properties states that it is actively communicating with creditors and the bank to protect bondholder interests.