Longfor Properties allocates 1.7bln yuan for bond repayment

Chinese real estate developer Longfor Properties has allocated 1.7 billion yuan (US$234.2 million) to the designated account for the repayment of the 18 Longfor 04 bonds, the company said on Monday. Currently, Longfor has only 119 million yuan remaining in domestic matured debt, which is due in November. As for the HK$15.3 billion syndicated loan due in January 2024, Longfor has already repaid HK$7.2 billion in advance, and the company plans to fully repay the loan ahead of schedule this year.