by bondevalue | May 19, 2021 | China, Investment Grade Bonds
Embattled bad debt manager, China Huarong Asset Management has provided some relief to its creditors after it wired $300mn to pay its 3.3% 2021’s due on Thursday. The company, one of the four biggest distressed asset management firms in China, was reported to...
by bondevalue | May 18, 2021 | Asian Dollar Bonds
China Huarong Asset Management Co. is said to have closed funding arrangements with China’s state-owned lenders to repay debts due through “at least the end of August”, as per people familiar with the matter reported by Bloomberg. The sources added...
by bondevalue | May 14, 2021 | China, Investment Grade Bonds
China Huarong said that their liquidity position was “fine” and that they made “proper arrangement” and “adequate preparation” for future bond payments. In a response to Bloomberg, Huarong also said that “At present, there is no factual basis to indicate any change in...
by bondevalue | May 7, 2021 | China, Investment Grade Bonds
Huarong said that it has wired funds to pay coupons on five offshore bonds due today. The state-owned bad-debt manager’s latest move is considered an effort to reduce concerns on its financial health. The bonds include their 4% Perps, up 0.2 to trade at 67.9. Huarong...
by bondevalue | May 3, 2021 | China, Investment Grade Bonds
China Huarong’s vice president Xu Yongli said that there was no factual basis for the credit rating downgrades by rating agencies last week and asserted that the company is well prepared to make bond payments. According to Xu, the company has adequate liquidity...
