by Amruth Sundarkumar | Nov 25, 2022 | China, High Yield Bonds
Dollar bonds of several Chinese developers rallied after ICBC, Postal Savings Bank of China and CCB joined three other big domestic banks in providing a combined $129bn in credit lines. ICBC said it would provide RMB 655bn ($91.5bn) in credit lines to 12 developers...
by Amruth Sundarkumar | Nov 24, 2022 | China, Corporates
Five of China’s large property developers have received a combined $30bn in credit line support from three of the largest state-owned banks to support the property sector. BOCOM said it agreed to provide a RMB 100bn ($14bn) credit line to China Vanke and an RMB...
by Amruth Sundarkumar | Nov 29, 2021 | China, Distressed / Defaulted Bonds, High Yield Bonds
Evergrande’s founder Hui Ka Yan sold 1.2bn shares in the company at an average price of HK$2.23/share last Thursday, almost a 20% discount to the share price on Wednesday. The total value of the stake sale amounted to HK$2.68bn ($344mn), lowering his overall...
