Recently, the debt ridden Founder group of Peking University has made new progress. Cinda Asset (1359. HK), one of China's four largest asset management companies, recently provided Beijing Founder with 8 billion yuan of short-term funds to provide liquidity support, two sources said on Wednesday.
A source said that Cinda assets has a strong support for the founder of Peking University, the approval process is very fast, and the funds are in place.
Before that, Xinda Asset Investment Banking Department has begun to sort out the asset status of Founder group of Peking University, and Xinda securities, a subsidiary of Xinda Asset, has conducted research and investigation on the situation of each department of Founder Securities (601901. SS).
Reuters was unable to contact Founder group and Cinda assets for comment. Founder group of Peking University has listed companies Founder Technology (600601. SS) and Founder Securities.
Beijing Founder Group announced on Monday that the holders of the second phase of ultra short term financing bonds in 2019 voted to postpone the payment of the principal of "19 founder scp002" of ultra short term financing bonds, and the payment date was changed to February 21, 2020, during which the interest is calculated at the original interest rate of 4.94%.
On December 2, Founder group of Peking University, a state-owned holding company and school enterprise background, announced that the issuance of ultra short financing "19 founder scp002" failed to pay the principal and interest in full on schedule, which was its first bond default.
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