by Megha Malhotra | Feb 14, 2022 | High Yield Bonds
Dollar bonds of Zhenro Properties crashed on speculation that the developer will not redeem its $200mn 10.25% Perp which has a call option exercisable on March 5, 2022 in a bid to maintain sufficient liquidity. Sources told the Post that Zhenro was debating whether it...
by Megha Malhotra | Feb 14, 2022 | High Yield Bonds
Zhenro’s debt worries also weighed on developer Ronshine China with some of its dollar bonds like its 8.95% 2023s at record lows while its shares fell 7.3%. Bloomberg notes that Ronshine Chairman Ou Zonghong is a brother of Ou Zongrong, who is Zhenro’s controlling...
by Megha Malhotra | Feb 14, 2022 | Singapore Dollar Bonds
DBS Group reported a 37% jump in its Q4 2021 profits with its annual 2021 profits hitting a record of S$6.8bn ($5.1bn), up 44% YoY. The record profits came on the back of a 9% rise in loan growth to S$409bn ($304bn) for the year, its highest in seven years alongside a...
by Megha Malhotra | Feb 14, 2022 | Financial News
Tensions between Russia and Ukraine seem to be escalating further with US National Security Advisor Jack Sullivan telling CNN on Sunday that there’s “a distinct possibility that there will be major military action very soon.” He cited US intelligence when he...
by Megha Malhotra | Feb 11, 2022 | Financial News
S&P and Nasdaq ended 1.8% and 2.1% lower as US inflation hit a 40Y high (details below). Sectoral losses were led by Real Estate, IT and Utilities, down over 2.5% each. The high inflation reading pushed US 10Y Treasury yields higher by 11bp to breach the 2% mark...
