Sino-Ocean’s IG-Status on Review For Downgrade by Moody’s, akin to COGARD
Moody’s has placed Chinese property developer Sino-Ocean and its senior unsecured notes on review for a downgrade from its Baa3 rating. It also placed the developer’s perpetual bonds’ Ba2 rating on review for a downgrade. The rating agency expects...
China South City Bondholders Agree to Dollar Bond Amendments
Bondholders of China South City agreed to amendment on five of its dollar bonds after it launched a consent solicitation in mid-June. It had sought to revise terms concerning “permitted bondholders” and the “change of control” on its 11.5%...
Evergrande Investor Files Winding-up Petition
Top Shine Global filed a winding up petition against China Evergrande in Hong Kong because it had not honored a financial obligation of HK$862.5mn ($109.91mn). In March last year, Top Shine had bought HK$750mn worth of shares in Evergrande’s subsidiary, Fangchebao...
Macau Casino Operators’ Bonds Drop
Macau casino operators’ bonds were trending lower last week as investors were selling off their bonds, following Sands China’s downgrade to a fallen angel and a new outbreak of Covid cases, as reported by IFR. IFR notes that coupled with mainland China’s border...
