Wanda Unit’s Planned $452 Million ABS Deal Has Been Scrapped
- Property arm of Chinese conglomerate has another ABS pending
- Group may have to pay billions if a unit isn’t listed in 2023
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Dalian Wanda Commercial Management Group Co.’s planned issuance of an asset-backed security has been terminated, occurring as a unit of the Chinese property firm faces a key deadline for going public.
An update regarding the proposed 3.3 billion yuan ($452 million) offering was posted Thursday on the corporate bond information platform on Shanghai Stock Exchange. No reason was given regarding termination of the offering, an application for which was accepted on March 30. That same day, a separate 3.5 billion yuan ABS application was accepted, and that plan is in the feedback stage pending approval, according to the platform.