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

Jiayuan International Group bought back $61.538mn of its 13.75% senior notes due 2022 after some bondholders exercised their put options. The outstanding amount of the 2022s will fall to $145.207mn once the repurchased bonds are cancelled. The Chinese property developer Jiayuan (B2/B/B) repurchased $55.755mn of the 2022s last month under a tender offer. Jiayuan’s dollar bonds were marginally higher with its 12% 2022s up 0.6 to 100.5, yielding 11.65%.

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