by Arundhati Behera | Mar 20, 2023 | China, Distressed / Defaulted Bonds
Distressed real estate developer China Evergrande is said to have received support from major creditors for its offshore debt restructuring plan, as per people familiar with the matter. The people added that Evergrande had upped its preliminary proposal including...
by Arundhati Behera | Mar 13, 2023 | China, Distressed / Defaulted Bonds
Chinese property develop CIFI Holdings announced via an exchange filing on Friday that they have made “significant progress” in “formulat[ing] a holistic solution to its current offshore liquidity situation.” Among the preliminary terms...
by Arundhati Behera | Mar 13, 2023 | China, Corporates, Distressed / Defaulted Bonds, High Yield Bonds
Logan Group released plans for debt restructuring, after it missed payments on its offshore debt in 2022. The details include swapping $3.4bn of dollar bonds with new seven-year notes to extend the repayments, as per Reuters’ sources. As per one of the sources, more...
by Amruth Sundarkumar | Mar 9, 2023 | China, Distressed / Defaulted Bonds
Chinese property developer CIFI Holdings is planning to sell its prime assets in Shanghai, including its headquarters at Henderson CIFI Centre in Hongqiao district. This comes after the developer’s planned issuance of ~RMB 1.5bn ($220mn) in state-backed bonds...
by Amruth Sundarkumar | Feb 24, 2023 | Credit Ratings, Distressed / Defaulted Bonds
DTEK Renewables was downgraded to C from CC by Fitch following the tender offer on its 8.5% green bonds due 2024 that the rating agency considers as a distressed debt exchange (DDE). Fitch notes that the tender offer will be executed well below par and is among...
by Amruth Sundarkumar | Feb 23, 2023 | Distressed / Defaulted Bonds
Bed Bath & Beyond’s dollar bonds were higher by over 2 points after the distressed American retailer said that it will pay its overdue coupons due to bondholders on February 28. The retailer has been under a grace period since it missed those payments. Bed...
