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 | Apr 28, 2021 | China, High Yield Bonds
Chinese state-owned banking major Industrial & Commercial Bank of China’s (ICBC) Singapore branch came to the rescue of distressed asset manager China Huarong Asset Management Co. with the former granting a S$600mn ($452mn) loan to the latter to repay its...
by bondevalue | Apr 26, 2021 | China, Investment Grade Bonds
China Huarong Asset Management Co. announced that it will be further delaying the release of its annual earnings beyond the April 30 deadline. The company released a statement on Chinamoney.com, which is run by China Foreign Exchange Trade System that stated,...
by bondevalue | Apr 23, 2021 | China, Investment Grade Bonds
Further details on China Huarong’s reason for its earnings delay have emerged. Sources say that Huarong’s earnings were delayed because a plan for the PBOC to buy Huarong assets through Beijing Chengfang Huida Enterprise Management Co Ltd as part of a restructuring...
by bondevalue | Apr 22, 2021 | Asian Dollar Bonds, China, Investment Grade Bonds
China is considering a plan where a unit of the central bank, PBOC, would assume more than CNY 100bn ($15bn) of assets from China Huarong Asset Management Company (CHAMC), according to sources. This would help clean up CHAMC’s balance sheet and refocus on its core...
