by Amruth Sundarkumar | Jan 20, 2023 | China, Investment Grade Bonds
China Cinda Asset Management issued a profit warning in an exchange filing where it said that it expects to see a 40-50% drop in its net income for 2022. It expects a significant unrealized loss in fair value changes due to capital market volatility and the pandemic...
by Amruth Sundarkumar | Dec 22, 2022 | China, Insights
Macro Investment Grade Bonds High Yield Bonds Perpetual Bonds/AT1s China Real Estate The Chinese real estate sector saw a massive erosion in value this year, continuing the wave of defaults from 2021. Prominent defaults of Evergrande and Fantasia in late 2021 led to a...
by Amruth Sundarkumar | Dec 16, 2022 | China, Southeast Asia
With the six incumbent Macau casino operators being given new 10Y licenses which will come into effect from 01 January 2023 to operate, Reuters notes that operators are expected to focus on non-gaming activities in the new term. It said that Beijing is keen for Macau...
by Amruth Sundarkumar | Dec 2, 2022 | China, Investment Grade Bonds
Some of China Huarong’s dollar bonds were up over 10% yesterday, though there was no specific news regarding the company. Over 30 developers including names like China Vanke, Longfor Properties, Country Garden have received credit lines totaling RMB 2.2tn...
by Amruth Sundarkumar | Nov 11, 2022 | China, Distressed / Defaulted Bonds
In an update to its debt restructuring, R&F Properties has extended the maturity of eight of its onshore bonds by three years, from the prior four months. This following the developer obtaining consent to extend the maturities on 10 of its dollar bonds with a...
by Amruth Sundarkumar | Nov 1, 2022 | China, Investment Grade Bonds
Dollar bonds of Chinese property developer Longfor Group fell by over 5 points with the resignation by the founder and chairwoman, Wu Yajun. The billionaire businesswoman cited health and age reasons, with the resignation coming at a time when investors’...
