Chinese developer Shimao to hold creditor meetings to vote on ABS payment extension

SHANGHAI: Chinese property developer Shimao Group Holdings will hold meetings with investors in two asset-backed securities (ABS) on Jan 17, to vote on payment extension proposals, according to documents obtained by Reuters.

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Payments on the two ABS products - worth 1.17 billion yuan ($183.91 million) in total - are due this month, and Shimao is seeking to extend the payment deadlines to end-2022, according to the documents, which were confirmed by sources.