Xinyuan Real Estate (XIN) has released an update.
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Xinyuan Real Estate Co., Ltd. has successfully amended the terms of its 3.0% senior notes due 2027, with 88.55% of note holders consenting to waive the cash interest payment requirement for a specified period and to forgive any related defaults. This adjustment allows the company to accrue interest as payment-in-kind rather than in cash for the time being. The change is effective following an agreement with Citicorp International Limited, the trustee, to amend the indenture accordingly.
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