Chinese real estate developer Sichuan Languang Development Co. saw its dollar bonds, issued by Hejun Shunze Investment, plummet 7-10 points on Friday as investor concerns continue to build up over the company’s liquidity position. It’s 8.85% bonds due January 2022 and 11% bonds due June 2022 have fallen from ~90 levels in late April to 44.5 and 39.6 cents on the dollar currently. The company was downgraded by Moody’s and S&P to B3 and B- respectively last week citing weakening liquidity and funding access. The latest fall in its dollar bonds comes as the company names Yang Wuzheng, in his mid-20s, as its Chairman as per Bloomberg.

 

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