Jinke Property’s proposal to split bond redemption into 6 installments has been approved by bondholders.
Relevant bond is Jinke Property 2020 Corporate Bond (Tranche 1 of Series 2). The issue date of this bond was issued on 27/05/2020. Its maturity date is 28/05/2024. Coupon rate is 5.00%. Issue amount is CNY 1.25 bn.
As bondholders seek to exercise put option on 28/05/2022, in order to alleviate redemption pressure, Jinke Property proposed to split the redemption into 6 installments. The bondholders’ meeting was held from May 26th, 2022 to May 27th, 2022.
The attendees of this meeting held 75.87% of voting rights for this bond. According to meeting result, 66.14% of voting rights voted in favor of Jinke’s proposal. Thus, Jinke Property’s proposal has been approved.
Details of proposal can be viewed in ChinaBondInsight’s relevant report.
The final redemption would be made on 28/05/2023, which means that this bond would be inactive before its original maturity date.