by Amruth Sundarkumar | Dec 13, 2022 | China, High Yield Bonds
Country Garden (COGARD) is set to receive a $300mn offshore loan by ICBC in an effort that could help them repay their debt. This follows a similar move by BOC which issued an offshore loan for an unknown amount to Longfor Group. Both of these come on the back of...
by Amruth Sundarkumar | Dec 12, 2022 | China, Distressed / Defaulted Bonds
CIFI Holdings is planning to sell its entire 23.26% stake in a Hong Kong-listed property management subsidiary, CIFI Ever Sunshine Services Group to boost liquidity. The expected amount to be raised via the stake sale is not known. CIFI said that the disposal will...
by Amruth Sundarkumar | Dec 12, 2022 | China, High Yield Bonds
Chinese property tycoon Yang Huiyan, the co-chairman of Country Garden Holdings is planning to raise about $650mn by exiting some of her stake in the developer’s services unit Country Garden Services Holdings Co. Yang Huiyan’s investment vehicle is...
by Amruth Sundarkumar | Dec 9, 2022 | China, High Yield Bonds
Chinese authorities are said to further soften their stance on property policies at its annual Central Economic Work Conference next week, as per sources. The meeting is typically where policy makers discuss the upcoming year’s goals including the GDP target and the...
by Amruth Sundarkumar | Dec 8, 2022 | China, High Yield Bonds
Country Garden (COGARD) raised $619mn via a share placement, its second such issuance in a month. It issued 1.78bn shares at HK$2.7/share ($0.35), a 15% discount to Tuesday’s closing price, pushing its shares lower by 15% on Wednesday. Bloomberg notes that...
by Amruth Sundarkumar | Dec 7, 2022 | China, Distressed / Defaulted Bonds
China Aoyuan said in a statement that it wants to sell a 29.9% stake in Hong Kong-listed Aoyuan Healthy Life Group, its property services unit by December 19. The dollar value of the stake was however not disclosed. Aoyuan Healthy Life is an investment holding company...
