(Bloomberg) -- Shimao Group Holdings Ltd. has put 34 projects across China up for sale, as the embattled developer seeks to raise billions of dollars amid mounting debt repayment pressures, Caixin reported Tuesday.

The company is among Chinese real-estate companies that are selling assets to pay bills during a liquidity crunch following a government crackdown on excessive borrowing and speculation in the housing market. Regulators see asset sales as key to easing the crisis that’s impeding an economic recovery. 

China Evergrande Group urged offshore bondholders not to adopt aggressive legal action over repayments and asked for more time to make a risk disposal plan, after a group of overseas creditors threatened enforcement measures.

Key Developments:

  • Shimao Seeks Billions of Dollars From Asset Sales, Caixin Says
  • Evergrande Seeks More Time From Offshore Investors on Repayment
  • China Property M&A Deals Pick Up in Relief for Developers 
  • China Buys a Little Time for Cash-Strapped Developers: Shuli Ren

Shimao Seeks Billions of Dollars From Asset Sales, Caixin Says (8:14 a.m. HK)

The assets are residential, office, commercial and hotel projects in 17 cities including Beijing, Shanghai and Hangzhou and in the Greater Bay Area in southern China, Caixin cited documents as saying.

Shimao is asking for 42.2 billion yuan ($6.7 billion) for 15 of the projects, the report said. The remaining 19 are either joint ventures or projects in an initial investment stage in which the developer has invested a combined 32.5 billion yuan, it said. 

Evergrande Seeks More Time From Offshore Investors on Repayment (8:00 a.m. HK)

The developer is seeking more time from overseas investors to fully consider uncertainties and risks in order to make a debt risk disposal plan that will protect the interests of various parties, the company said in a statement. 

Evergrande is drafting a detailed debt restructuring plan and is actively maintaining dialog with offshore creditors, it said. The company faced coupon payment deadlines totaling $352.5 million on Monday.

CIFI Holdings Repays 5.5% Senior Notes Due 2022 in Full (6:35 a.m. HK) 

CIFI Holdings has repaid its 5.5% notes that matured on Jan. 23 in full at their outstanding principle amount of around $240m, together with interest, it said in a stock exchange filing late Monday. The firm said it expected no material impact on its financial position after redemption.

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