Chinese Property Firm Wanda Seeks to Delay Payment on $400 Million Bond

Dalian Wanda Group’s commercial real estate unit is seeking a two-year extension on a $400 million bond, the latest developer to seek a debt payment delay as China’s property crisis weighs on liquidity.

Dalian Wanda Commercial Management Group Co. said in a statement that it is seeking noteholders’ approval to extend the maturity date of the 11% dollar notes to Feb. 13, 2028. The company proposed redeeming the bonds in installments while keeping the interest rate steady.