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Xue Tingyang, intern reporter of Shenzhen Business Daily·DuChuang Client

On the evening of August 11, R&F Properties (02777) announced on the Hong Kong Stock Exchange that in view of the cash flow pressure currently faced by the group, the interest on the relevant Yilue notes was not paid in cash before maturity.

The above-mentioned Yilue Notes refer to three notes due in 2025, 2027 and 2028 issued by Yilue Limited, a subsidiary of R&F Properties, collectively referred to as the "Yilue Notes". The Yilue Notes are listed on the Singapore Stock Exchange.

Yilue Notes did not pay interest in cash before maturity

As of August 11, the principal amount of the 2025 Notes of $103,416,210, the principal amount of the 2027 Notes of $192,182,780, and the principal amount of the 2028 Notes of $157,116,700 have not yet been repaid.

Under the terms, each of the Yilue Notes bears interest at an annual rate of 6.5%. Interest of US$33,610,300 under the 2025 Notes, US$62,459,400 under the 2027 Notes and US$51,062,900 under the 2028 Notes are due and payable in cash on July 11, 2024. Yilue has a 30-day grace period to pay the interest. As of the date of this announcement, the grace period has expired. In view of the cash flow pressure currently faced by the Group, the above-mentioned Yilue Notes have not been paid in cash before maturity.