Wanda Commercial Management, according to undisclosed insiders cited by Bloomberg on July 17, is reportedly struggling to raise funds for the repayment of a US$400 million (2.87 billion yuan) bond due on July 23.
The company has informed creditors about the ongoing efforts and is considering alternative options. However, with a funding gap estimated to be at least US$200 million, time may be running out for the company to provide detailed contingency plans.
As of June 2023, the company had a domestic outstanding stock of public bonds worth 12.34 billion yuan, and an overseas bond stock of approximately US$1.8 billion.
