Chinese developers have about $1.3bn in bond payments due across dollar and yuan denominated bonds in December. This follows November’s $2bn in payments that saw no defaults during the month. The focus is on Evergrande and Kaisa that currently are sitting on a combined $170.9mn in coupons due as their dollar bonds entered a 30-day grace period ending in mid-December. Prominent bond payments due in December are:
- Week 1 (Dec 1- Dec 5): Kaisa, Ronshine, Yango and Agile have $198mn in bond payments due
- Week 2 (Dec 6 – Dec 12): Evergrande’s Scenery Journey, Kaisa, Ronshine and Yango have $598.4mn in payments due. This includes a $400mn Kaisa bond maturity on December 7.
- Week 3 (Dec 13 – Dec 19): Ronshine has $15.1mn in coupons due
- Week 4 (Dec 20 – Dec 26): China Aoyuan and China South City have $34.1mn in coupons due
- Week 5 (Dec 27 – Dec 31): Evergrande, Xinyuan and Kaisa have $414.1mn in coupons due
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