Fri 09/08/2023 03:13 AM
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Gemdale Group is working on potentially issuing new onshore bonds with guarantee from China Bond Insurance Co. while it is also discussing with its second largest shareholder, state-owned Shenzhen Futian Investment Development Co., for Futian’s related entity to potentially provide guarantee measures for the new bond issuance, according to three sources familiar with the matter.

The new issuance is still being discussed and might take a few months to materialize, said the sources.

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