by Amruth Sundarkumar | Mar 23, 2023 | China, Distressed / Defaulted Bonds
China Evergrande has unveiled details of its offshore debt restructuring. As part of the process, it provided two options for creditors to choose from: Option 1: Replace existing debt with new bonds and extend the maturity by 10-12 years Option 2: (a) Replace existing...
by Arundhati Behera | Mar 20, 2023 | China, Distressed / Defaulted Bonds
Distressed real estate developer China Evergrande is said to have received support from major creditors for its offshore debt restructuring plan, as per people familiar with the matter. The people added that Evergrande had upped its preliminary proposal including...
by Amruth Sundarkumar | Feb 28, 2023 | China, High Yield Bonds
Dollar bonds of Country Garden, Road King and Sino-Ocean were higher by over 2.5% across the curve yesterday. The former was on account of the developer planning to buy residential land in local government auctions for the first time since December 2021, in signs of...
by Amruth Sundarkumar | Jan 17, 2023 | China, Distressed / Defaulted Bonds
China Evergrande’s auditor PricewaterhouseCoopers (PwC) resigned from its role as the developer’s auditor on disagreements over the timeline and scope of work. The disagreements included Evergrande’s status as a going concern and also lack of...
by Amruth Sundarkumar | Jan 9, 2023 | China, Distressed / Defaulted Bonds
China Evergrande is set to meet with an ad-hoc group of dollar bondholders in its first in-person meeting on January 11 to decide on its restructuring framework. In late November, Evergrande told bondholders that its restructuring proposal may include swapping debt...
