NANJING, China, Feb. 21, 2021 — Suning Appliance Group Co. Ltd. (“Suning Appliance” or “the Company”), announced on February 2 that it repaid RMB 1.328 billion (USD 206 million) of principal and interest for 16 Suning 01 bonds that came due on February 1.
This was the second bond repayment Suning Appliance made in a week. Previously, Suning on January 29 disclosed that the company on January 28 completed a RMB 900-million payment for the execution of put options of 19 Suning 01 bonds.
The Company’s financial moves to repay bonds have shored up market sentiment while protecting investors’ interests, veterans in the industry said.
Since last year, Suning has made efforts to make payment for bonds. In November 2020, Suning.com Co. Ltd. completed multiple payments totaling RMB 3 billion for bond repurchases. In December, Suning Appliance repaid billions RMB of bonds before they came due. To date, Suning has completed bond payments totaling RMB 17.9 billion.