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

Peking University Resources (Holdings)

25/12/2019 05:48

BEIJING/SHANGHAI, Dec 25 (Reuters) - China Cinda Asset
Management Group  1359.HK  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.
 urn:newsml:reuters.com:*:nB9N28E031
    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)
 ((winni.zhou@thomsonreuters.com; +86 21 2083 0100; Reuters
Messaging: winni.zhou.thomsonreuters.com@reuters.net))