by Amruth Sundarkumar | Sep 29, 2022 | China, Corporates
China Huarong announced that it will redeem/call back its $700mn 4% Perp at par on the upcoming call date of November 7, as per an exchange filing. The bonds are guaranteed by China Huarong International Holdings, a wholly-owned subsidiary of China Huarong Asset...
by Amruth Sundarkumar | Aug 17, 2022 | China, Investment Grade Bonds
China Huarong said that it expects a net loss of RMB 18.9bn ($2.8bn) in H1 2022 after credit impairment losses “increased significantly”. The asset manager said that the impact of capital market volatility and the “downturn in the real estate market” were adding...
by Amruth Sundarkumar | Jul 8, 2022 | China, Corporates
China Huarong’s perp and longer-maturity bonds dropped after its peer China Great Wall Asset Management Co. missed its deadline to report its 2021 annual report in June. “We are starting to see a contagion effect from Great Wall to the whole AMC space… it...
by Megha Malhotra | Aug 20, 2021 | China, High Yield Bonds
China Huarong’s dollar bonds soared up to 10% after its detailed announcement yesterday which indicated a state-led bailout and no plans of a debt restructuring, putting to end uncertainty over the bad-debt asset manager. Through the announcement, Huarong issued a...
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...
