COGARDs Dollar Bonds up 2-3 Points On Planned Yuan Bond; R&F Gets Approval to Delay Local Bond Repayment
Country Garden’s (COGARD) dollar bonds moved 2-3 points higher on news of a planned RMB 500mn ($74mn) onshore yuan bond offering. Besides, Chinese financial platform Cailin reported that Country Garden will issue asset-backed securities (ABS) and asset-backed...
Tencent Reports Slowest Quarterly Sales Since Listing; Profits Fall 51% YoY
Tencent reported almost no revenue growth during Q1 2022 at RMB 135.5bn ($20bn), much lower than consensus estimates of RMB 141bn ($20.9bn). This was its slowest quarterly sales since it got listed. Its quarterly profits were at RMB 23.4bn ($3.5bn), down 51% YoY....
Agile Downgraded to B3 by Moody’s
Agile Group was downgraded to B3 from B2 and its senior unsecured ratings to Caa1 from B3, with a negative outlook. Agile’s liquidity is expected to remain “inadequate in the next 12-18 months” without new external financing, funding and timely...
IHC Invests $2bn in Adani Group’s Green Portfolio
Abu Dhabi-based global strategic investment company, International Holding Company PJSC (IHC), has made an announcement of the completion of an INR 154bn ($2bn) investment transaction in the Adani Group’s portfolio companies. In April, IHC agreed to invest AED...
