Dasin Retail Trust’s China unit could face legal action if it fails to pay back offshore loans

Dasin Retail Trust's China subsidiary, Zhongshan Yuanxin Commercial Property Management, may face legal action for breaching an inter-creditor deed by making an unauthorized repayment of 150 million yuan on onshore liabilities. This repayment reduced its onshore loans below the required minimum of 350 million yuan, constituting serious breaches. The offshore facility agent warned that if offshore liabilities are not fully repaid within five days from August 1, legal action may be taken. Dasin's units have been suspended from trading since July 21 due to non-compliance with listing rules.