Evergrande Creditors Approve Onshore Bond Amendments; Kaisa Enters Constructive Dialogue with Creditors on Restructuring
Hengda Real Estate Group, the onshore unit of Evergrande, saw bondholders approve proposals related to the repayment of RMB 8.2bn ($1.2bn) on its 6.98% bonds that are due in July 2022. It noted that three proposals related to the repayment of the notes were approved...
Shimao Defaults On $400mn Zero Coupon Bond Principal
Shimao Group has failed to fulfill its obligations to make a principal payment on its $400m zero-coupon bond that was due on June 14, according to the Credit Derivatives Determinations Committee. This default is the latest in a string of problems for the Chinese...
Aeromexico Shareholders Approve Proposal for Stock Exchange Exit for Restructuring
As part of bankruptcy restructuring, the majority of Aeromexico’s shareholders approved the proposal to exit the Mexican Stock Exchange. In March, the company exited bankruptcy protection and planned to spend $5bn by 2027 for fleet modernization and other...
Evergrande Says Investor Wind-Up Petition Not to Impact Restructuring Timeline
China Evergrande said in a statement yesterday that the winding up petition linked to a financial obligation of HK$862.5mn ($109.91mn) is not expected to affect its restructuring plans or timetable, as reported by Caixin Global. The Chinese developer will vehemently...
