SOVEREIGN DEBT RESTRUCTURING | MASTERCLASS

A deep dive masterclass on sovereign debt restructuring, to be conducted virtually by Asian high yield bond expert Florian Schmidt.

30 June 2022 (Thu), 5pm Singapore/HK time

Over 65% of Chinese developers’ dollar bonds in our universe now yield above 10% with the sell-off in continuing to depress prices and push yields higher. Issuers whose bonds yield less than 10% include those of Country Garden, Sun Hung Kai, CK Asset, China Vanke, Poly Real Estate, CIFI, Lai Fung, Swire, China Overseas Land and a handful of others. About 22% of the bonds have a yield of over 50% with the issuers in this space including erstwhile delinquents like Evergrande, Fantasia, Sinic and also recent additions in the last few weeks like Modern Land, Aoyuan, South City amongst others.

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