by Amruth Sundarkumar | Oct 22, 2021 | China, Investment Grade Bonds
China Huarong Asset Management Co. had its much-delayed AGM on Thursday where it received shareholder approval for the following special resolutions: Issue the remaining RMB 10bn ($1.6bn) of its capital bond quota Allow the board a mandate to issue up to 20% of its...
by Amruth Sundarkumar | Oct 4, 2021 | China, Investment Grade Bonds
China Huarong’s shareholders are set to consider a proposal for the asset manager to issue ~RMB 70bn ($10.9bn) of domestic bonds, as per Bloomberg. The issuance would help further enhance its liquidity management and may be through a public or targeted issuance....
by Amruth Sundarkumar | Oct 1, 2021 | China, Investment Grade Bonds
China Huarong AMC announced progress in its non-core assets disposal plans noting that it will sell its entire 79.6% stake in Huarong Zhongguancun Distressed Asset Exchange Center Co. Ltd. to Banking Credit Asset Registration and Circulation Center Co . Ltd.,...
by Amruth Sundarkumar | Sep 9, 2021 | China, Credit Ratings, Investment Grade Bonds
China Huarong Asset Management Co. and China Huarong International Holdings Ltd. have been downgraded by S&P to BBB from BBB+ and subsidiary China Huarong Financial Leasing Co. Ltd. (Huarong Financial Leasing) has been lowered to BBB- from BBB+. The rating outlook...
by Megha Malhotra | Aug 30, 2021 | China, Investment Grade Bonds
China Huarong Asset Management Co Ltd finally published results for the full year ended December 30, 2020 and the interim results for the six months ended June 30 on Sunday. The distressed asset manager reported a loss of RMB 102.9bn ($15.9bn) for 2020, in line with...
