by Amruth Sundarkumar | Jun 17, 2021 | China, Investment Grade Bonds
Caixin Media’s WeNews states that China Huarong has begun disposing seven units, of which one operates in non-performing asset trading and one is a local asset-management company, with a combined CNY 700bn ($109bn) in assets as part of a restructuring. Caixin reports...
by Amruth Sundarkumar | Jun 10, 2021 | China, Investment Grade Bonds
China Huarong’s dollar bonds filled the losers list on Wednesday with pressure now seen in the onshore market. Onshore trading of Huarong’s bonds has seen liquidity dry up with Bloomberg reporting sources talking about wide bid-offer spreads and low deal volume. The...
by Amruth Sundarkumar | Jun 7, 2021 | China, Investment Grade Bonds
Beijing is allegedly nudging Huarong to sell non-core assets while considering offering an implicit guarantee of their liabilities, sources involved in the revamp told Reuters. One of the sources said that the plan would see the authorities informally backing $20bn in...
by Amruth Sundarkumar | Jun 4, 2021 | Credit Ratings
S&P analysts note that China Huarong will have to publish its 2020 results by end-August as a hard deadline to avoid a technical default. “If Huarong International fails to deliver the results by the deadline stipulated in the bond terms, it will be in technical...
by Amruth Sundarkumar | Jun 3, 2021 | China
Bonds of Chinese bad-debt asset management companies (AMCs) China Huarong Asset Management Co (CHAMC), China Cinda Asset Management Co, China Orient Asset Management Co and Great Wall Asset Management dropped further on Wednesday. Ever since Huarong’s delay in filing...
