Benzinga | Dec 11, 2020 08:37AM EST

Xinyuan Real Estate Announces Early Payment Of RMB1B Of Bond Due December 28, 2020

BEIJING, Dec. 11, 2020 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE:XIN), an NYSE-listed real estate developer and property manager, today announced that it has fully redeemed the remaining principal of RMB 999,986,000 and interest accrued from December 28, 2019 to December 8, 2020 on its corporate bond (ISIN code: 136126) ("the bond") before it matures on December 28, 2020.

Mr. Yong Zhang, Chairman of Xinyuan, stated: "In the case of increasingly tight market for debt at the end of the year, the early payment of RMB1 billion reflected Xinyuan's solid cash position and liquidity, as well as our strong capability to set up a debt management plan. We want to assure bondholders and investors that Xinyuan is operating in a good condition and all financial obligations will be met on time and in full."

Xinyuan originally issued the Bond on December 28, 2015, with interest of 7.50% from December 28 to December 27, 2018, and interest of 8.20% from December 28, 2018 to December 27, 2020.