by Amruth Sundarkumar | Jan 5, 2023 | China, High Yield Bonds
Dollar bonds of Country Garden, Sino-Ocean, Agile, KWG, China Jinmao and several others rallied yesterday by over 5%. China is planning measures to further ease liquidity stresses at some of its ‘too-big-to-fail’ developers. Recently, the Financial...
by Amruth Sundarkumar | Dec 5, 2022 | China, High Yield Bonds
Agile Group was downgraded by Moody’s to Caa1 from B3 and it senior unsecured ratings were cut to Caa2 from Caa1. Moody’s believes that Agile’s liquidity will be inadequate over the next 12-18 months without access to new external financing or asset...
by Amruth Sundarkumar | Nov 16, 2022 | China, High Yield Bonds
Agile Group announced its plans to raise HKD 783mn ($100mn) via a top-up placement, following its peer Country Garden that announced a HKD 3.9bn ($500mn) capital raise via a share placement yesterday. Agile would be selling shares at HKD 2.68/share, an 18% discount to...
by Amruth Sundarkumar | Nov 15, 2022 | China, High Yield Bonds
Chinese property developers saw their stocks and bonds rally on Monday following Beijing’s new 16-point relief package for the distressed sector, announced on Friday. Among the names that rallied were Longfor, Country Garden (COGARD), Agile, Central China and...
by Amruth Sundarkumar | Oct 21, 2022 | Distressed / Defaulted Bonds
Agile Group redeemed its RMB 1.59bn ($207mn) 6.2% bond due October 19. The developer has been struggling with its finances like the rest of the sector and has worked on the asset sales including that of its JV that was thought to have eased its liquidity burden. The...
