Zhenro Properties Group Limited (SEHK:6158) plans to extend maturity of other onshore and offshore debt, and dispose of assets worth up to CNY 4 billion ($632.73 million) in the first half, three sources with knowledge of the matter. Zhenro told investors in a call on Wednesday the debt it will seek extensions include bank loans and asset-backed securities. The company is in the process of asking holders of a $200 million perpetual bond due March 5, 2022 to waive claims against the company if it defaults, and is seeking to extend the maturity of five bonds due 2022, worth around $1 billion, to March 2023.

It also told investors on February 23, 2022 it is in talks with state-owned firms to dispose of the assets.