SOVEREIGN DEBT RESTRUCTURING | MASTERCLASS

A deep dive masterclass on sovereign debt restructuring, to be conducted virtually by Asian high yield bond expert Florian Schmidt.

30 June 2022 (Thu), 5pm Singapore/HK time

The Chinese property sector has RMB 53.6bn ($8.5bn) in trust payments due April, according to data tracker Use Trust. Bloomberg also adds that stressed developers have $3.1bn in dollar and onshore bond payments during the month. Below are some details of the payments due each week:

  • Week 1 (April 1-4): Sunac, Redsun, R&F Properties and Helenbergh have a combined $1.05bn due
  • Week 2 (April 9-15): China SCE, Agile, Sunac, Powerlong, Redco, Zhenro, KWG have a combined $979mn due
  • Week 3 (April 16-22): Logan, Powerlong, Sunac, Times China, Agile have a combined $516mn due
  • Week 4 (April 23-30): R&F Properties, Times China, Shimao, Jingrui, Powerlong have a combined $519mn due

Separately, a Credit Derivatives Determinations Committee ruled that Logan Group’s credit default swaps will be triggered by a ‘failure-to-pay credit event’ which occurred on March 17. The CDS covered a net $115.6mn of Logan’s debt as of March 11, Bloomberg reports.

Show Buttons
Hide Buttons