by Amruth Sundarkumar | Jul 16, 2021 | China, Investment Grade Bonds
China Huarong’s $500mn 2.875% Perp surged almost 13 cents yesterday to trade over 96 cents on the dollar as the company was said to have started preparations with bankers and lawyers to call back the bond at 100 on its call date of September 14, as per sources. A...
by Amruth Sundarkumar | Jul 13, 2021 | China, Investment Grade Bonds
China Huarong said in a filing that it is making efforts to build a mechanism wherein increased internal control and compliance is in tune with the regulator CBIRC’s requirement for better compliance management among financial institutions in China. Whilst not giving...
by Amruth Sundarkumar | Jul 12, 2021 | China, Investment Grade Bonds
Tencent Holding’s backed $5.3bn merger of China’s two largest video gaming live-streaming platforms has been blocked by the Chinese regulator, State Administration for Market Regulation (SAMR). According to the antitrust regulator, the deal between Huya...
by Amruth Sundarkumar | Jul 9, 2021 | China, Investment Grade Bonds
China Huarong’s dollar bonds fell over 2% on Thursday. While reasons for the fall are unclear, Huarong gave an update that they have repaid their $400mn bond that was due on July 3. Huarong has been in the news with investor concerns on the company delaying its 2020...
by Amruth Sundarkumar | Jul 5, 2021 | China, Investment Grade Bonds
A unit of China Huarong repaid their $400mn floater, guaranteed by the parent, due on Saturday, as per sources. The source said that the principal and interest were wired to the designated account. Huarong has repaid all its notes till date but concerns remain on its...
by Amruth Sundarkumar | Jul 1, 2021 | China, Investment Grade Bonds
China Huarong said that its auditors need more time to complete their audit as they require more information. They added that they cannot determine when they would publish their 2020 earnings. In a note last month, S&P analysts mentioned, “If Huarong International...
