Cifi Holding Group (00884.HK) announced through its subsidiary Cifi Group Co., Ltd. that the '22 CIFI 01' 2024 first bondholder meeting will be held from May 23 to June 18, approving proposals to adjust the bond payment arrangements, increase credit enhancement measures, and agree to extend the grace period.

The '22 CIFI 01' starts on June 27, 2022, with a balance of CNY 500 million and a term of four years, including an investor put option and issuer call option at the end of the second year, and the put payment date is June 27, 2021. The current bond has no security and was issued with a coupon rate of 5.5%.

The issuer provides adjustment options for the payment date, including extending the principal payment period for three years, splitting payments into seven periods, and repaying 10% of the principal in the first six periods. The bond payment date is adjusted to June 27, 2027. The bondholders also approved the proposal to increase the grace period. The issuer stated that due to the overall situation of the real estate industry and the current operating conditions of the issuer, in order to ensure the smooth payment of interest for this bond, a grace period of 60 working days for the bond's principal and interest payment date within the current bond term will be granted.