Glorious Property Misses More Loan Repayments as Sales Drop

Updated on
  • Management confident lenders won't enforce immediate repayment
  • Company has a $300 million bond that matures next month

Glorious Property Holdings Ltd. said it’s selling assets to raise cash and negotiating with lenders to ease its financial burden after falling behind in servicing 10.5 billion yuan ($1.6 billion) of loans.

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