Yango Agrees Maturing Onshore Bond Extension With Investors

Embattled Chinese developer Yango Group has reached an agreement with investors to extend the payment of its onshore bond due on November 19, two sources familiar with the matter claimed on Friday.

Repayment of Yango’s 7.8% November 2021 bond, with an outstanding value of 636.5 million yuan ($99.45 million), will be extended by one year, the sources said.

The agreement follows a deal reached this week to extend principal payments on onshore asset-backed securities redeemable in November. Yango Group declined to comment.

Reuters with additional editing by Sean O’Meara

China Developer Yango Seeks One-Year Payment Extension: Redd

Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.