by Amruth Sundarkumar | Dec 7, 2022 | China, Distressed / Defaulted Bonds
China Aoyuan said in a statement that it wants to sell a 29.9% stake in Hong Kong-listed Aoyuan Healthy Life Group, its property services unit by December 19. The dollar value of the stake was however not disclosed. Aoyuan Healthy Life is an investment holding company...
by Amruth Sundarkumar | Apr 26, 2022 | China, High Yield Bonds
Chinese property offshore and onshore bonds have diverged, with holders of the former witnessing the most losses as developers focus debt efforts on local investors. For example, Bloomberg notes that Yuzhou Group’s and Shimao Group’s dollar bonds have...
by Amruth Sundarkumar | Mar 29, 2022 | China, Distressed / Defaulted Bonds
Sunac China said that while it would be able to publish its unaudited report by month-end, it would not be able to meet the deadline for its audited results. It cited the workload and time required for the unfinished parts of the preparation of the financial...
by Amruth Sundarkumar | Mar 28, 2022 | China, High Yield Bonds
Country Garden (COGARD) has entered a loan facility of RMB 20bn ($3.14bn) with the AgBank of China’s Guangdong Branch, Shanghai Securities News reported. The loan will be used for by the developer and its affiliated firms to acquire properties. COGARD’s dollar...
by Amruth Sundarkumar | Jan 24, 2022 | Financial News
Chinese property developer China Aoyuan has been downgraded to RD from C by Fitch following the company’s announcement on January 19 that it will not be making payments on four of its dollar bonds. Fitch has affirmed its senior unsecured ratings at C with a...
