The company has asked investors of the dollar bond tranches totalling $747 million to exchange them for new notes personally guaranteed by its chairman, as it seeks to avoid a default on debt payments.

Yango said in a filing on Thursday it will issue the new notes on or about Nov. 23, which will mature on Sept. 15, 2022, carrying an annual interest of 10.25%.

The extensions apply to the company's $200 million 5.3% January 2022, its $300 million 10.25% March 2022 and its $247 million 10% February 2023 bonds.

It is also seeking extensions from bondholders of five other bonds.

The Shanghai-based developer said separately on Friday, on an investor platform in the Shenzhen Stock Exchange, that investors for three onshore bonds maturing in November have agreed to extend the debt by one year.

Earlier this month, it also reached agreements with investors to extend payment dates on asset-backed securities, sources have told Reuters.

(Reporting by Clare Jim; Editing by Simon Cameron-Moore)