Thu 05/25/2023 06:37 AM
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UPDATE 3: 6:37 a.m. ET 5/25/2023: Shanghai Powerlong Industrial Development Group Co., an onshore subsidiary of Powerlong Real Estate Holdings, has provided a preliminary two-year extension plan to holders of its CNY 1 billion ($141.5 million) 5.8% medium-term notes putable June 7 “21 Powerlong MTN001,” according to two sources familiar with the matter.

The company is proposing to make five installment payments, of 5%, 5%, 10%, 10% and 70% of the principal amount on June 7, 2023, Sept. 7,...
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