Xinyuan Real Estate said it hasn’t made certain interest payments on its outstanding 14% 2024 senior notes and its outstanding 14.5% 2023 senior notes.
- Total interest due and payable is $37.2m
- Principal of ~$229.6m became due and payable under the 2023 notes owing to holders’ exercise of their right to require the company to repurchase the notes in accordance with the indenture dated Sept. 17, 2020
- Co. has been negotiating with major holders of the notes to resolve the matter
- Co. has engaged Alvarez & Marsal Corporate Finance and Latham & Watkins to advise on its related debt matters