Longfor Group completes repayment of two bonds, with no publicly traded overseas bonds maturing before the end of 2026

$LONGFOR GROUP(00960.HK)

On January 13, Longfor Group (HK00960) recently transferred the repayment funds for two corporate bonds, "22 Longfor 01" and "20 Longfor 02," into the dedicated debt repayment account in advance, totaling 3.9775 billion yuan.

Public information shows that "22 Longfor 01" had an issuance scale of 2 billion yuan with a coupon rate of 3.49%, and the current put option redemption amount was 1.7881 billion yuan; "20 Longfor 02" had an issuance scale of 2.3 billion yuan with a coupon rate of 4.2%, and the current put option redemption amount was 2.1894 billion yuan. The total put option redemption amount for the two bonds was 3.9775 billion yuan, which Longfor has fully repaid.

This marks Longfor's first debt repayment action in 2025, following its early repayment of a 9.45 billion Hong Kong dollar syndicated loan due on January 2 this year in 2024. Additionally, in 2024, Longfor repaid 11.7 billion yuan in domestic bonds as scheduled and prepaid 7.2 billion yuan in CMBS. It is also revealed that Longfor has no publicly traded overseas bonds maturing before the end of 2026.

In a recent 2025 real estate industry outlook report, Galaxy International stated that thanks to prudent financial management, Longfor is considered one of the most defensive developers among private real estate companies. Given Longfor's clear debt repayment plan for the next 2-3 years, Galaxy International judges its liquidity risk to be minimal and maintains a "buy" rating, raising the target price to 12.5 Hong Kong dollars.