December 25, 2019 / 6:14 AM / 24 days ago

China Cinda Asset offers 8 bln yuan liquidity support to Peking Founder -sources

BEIJING/SHANGHAI, Dec 25 (Reuters) - China Cinda Asset Management Group recently offered 8 billion yuan ($1.14 billion) worth of short-term liquidity support to Peking University Founder Group, two sources with direct knowledge of the matter said on Wednesday.

One of sources said the funds have already been provided.

The liquidity support came at a time when Peking University Founder Group has received investor approval to extend the grace period to repay an overdue onshore China bond until Feb. 21, 2020.

The company had missed a payment deadline for 2 billion yuan worth of maturing short-term commercial paper on Dec. 1.

Both companies did not immediately respond to Reuters requests for comments. ($1 = 6.9990 Chinese yuan) (Reporting by Zhang Xiaochong and Ryan Woo in Beijing; Writing by Winni Zhou in Shanghai; Editing by Muralikumar Anantharaman)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below