Dalian Wanda Commercial Management Group Co., China's largest mall operator, plans to establish a fund between 50 billion to 90 billion yuan ($6.9 billion-$12.4 billion) to address taxes and debt. The fundraising effort is expected to be completed by 2025, as the company seeks to navigate the ongoing property crisis without public defaults.
Dalian Wanda Commercial Management Group Co. is proposing to extend the maturity of its $400 million, 11% guaranteed bonds from January 20, 2025, to January 12, 2026, amid liquidity challenges due to the property downturn in China. Wanda Properties Global Co. is inviting bondholders to approve amendments, which also include a mandatory redemption of 25% of the outstanding principal on January 20.
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