by Amruth Sundarkumar | Sep 22, 2022 | Financial News
China Fortune Land Development’s (CFLD) debt restructuring plan for its offshore bonds has been met with resistance from its creditors. Advisers of an ad-hoc bondholder group of CFLD’s dollar bonds have planned a conference call for all creditors later...
by Amruth Sundarkumar | Sep 20, 2022 | China, Distressed / Defaulted Bonds
China Fortune Land Development (CFLD) has announced a restructuring plan for all of its 11 offshore bonds worth $4.96bn. Below is a summary of the details: A cash repayment of 1% of the existing bonds’ principal amount. For bondholders who vote in favor before...
by Amruth Sundarkumar | Nov 26, 2021 | China, Distressed / Defaulted Bonds
China Fortune Land Development’s (CFLD) bondholders are said to have have sought support from other investors to reach a 25% blocking vote position as per Bloomberg citing financial intelligence provider REDD. Reaching a 25% blocking position across CFLD’s...
by bondevalue | Mar 23, 2021 | China, Distressed / Defaulted Bonds
Distressed Chinese real estate developer China Fortune Land Development (CFLD) is said to be seeking a debt maturity extension of at least six months from creditors, as per Bloomberg. The company is expected to come up with a proposal on how it plans to repay its...
by bondevalue | Mar 10, 2021 | China, Distressed / Defaulted Bonds
Distressed Chinese property developer China Fortune Land Development (CFLD) reported debt overdue of CNY 19.4bn ($2.98bn) including bank loans, trust loans and bonds. The number is almost double that of CNY 11.1bn ($1.7bn) that they reported on February 26. CFLD is...
