


CFLD’s Dollar Bonds Jump on News of It Working on a “Risk Mitigation Plan”
Distressed Chinese real estate developer China Fortune Land Development (CFLD) saw its dollar bonds jump this morning following the company’s announcement that it is working on a risk mitigation plan. In an exchange filing, CFLD called for a 5 day trading halt...
CFLD’s Unit Acquired By Peer; Chengxin Credit Terminates Ratings; Bonds Continue To Fall
Bloomberg reported that developer Shenzhen Parkland acquired 100% of China Fortune Land’s (CFLD) Shenzhen unit, which had a registered capital of CNY 100mn ($16mn). CFLD recently revealed overdue debt of $10bn, 3x that of their reported March numbers....
CFLD Reveals Overdue Debt of $10bn, 3x of March Report
Distressed Chinese property developer China Fortune Land Development (CFLD) reported that its overdue debt has increased by CNY 6.8bn ($1bn), citing adverse macroeconomic, industry and credit conditions, according to a notice on the Shanghai Clearing House. This...