by Amruth Sundarkumar | Dec 2, 2022 | China, Distressed / Defaulted Bonds
Sunac China agreed to sell roughly 90% of its stake in one of its most valuable projects in Shanghai to two state-owned investors. As part of the transaction, it sold a 64.7% stake in its Oceanwide Construction Holdings unit to a unit of China Huarong Asset Management...
by Amruth Sundarkumar | Dec 1, 2022 | China, Distressed / Defaulted Bonds, High Yield Bonds
Four Chinese property developers namely Hubei Fuxing Technology, Shimao Group and Xinjiang Beixin Road & Bridge and Xiamen C&D have come forward to issue shares after the relaxation in policy regarding developers’ equity financing. Among the planned...
by Amruth Sundarkumar | Nov 30, 2022 | China, High Yield Bonds
Fosun Pharma is planning a sale of Indian drugmaker Gland Pharma at a market value of $3.8bn after receiving interest from potential suitors, as per Bloomberg sources. Gland Pharma specializes in injectable drugs like antibiotics, oncology and cardiology treatments...
by Amruth Sundarkumar | Nov 30, 2022 | China, High Yield Bonds
China’s securities regulator CSRC said that it will allow property developers to sell shares to raise funds, reversing its ban on equity refinancing imposed in 2009 to prevent the market from overheating. The CSRC rolled out five measures to facilitate equity...
by Amruth Sundarkumar | Nov 29, 2022 | China, Distressed / Defaulted Bonds
Evergrande has sold a plot of land in Shenzhen for RMB 7.5bn ($1bn) after being put on sale in mid-November. The land was initially reserved to build its Shenzhen headquarters but there had been no development there since September 2021. With a restructuring proposal...
by Amruth Sundarkumar | Nov 28, 2022 | China, High Yield Bonds
Country Garden’s (COGARD) dollar bonds continued the move from last week to surge higher again as the developer received funding in the form of credit lines. Up to $7bn in credit lines were signed between COGARD and Postal Savings Bank of China which will be...
