by Amruth Sundarkumar | Dec 19, 2022 | China, High Yield Bonds
China South City sold about 70% of its stake in a unit holding projects in the central city of Xi’an for $717mn. Proceeds from the sale will be used for working capital and repayment of RMB 2.86bn ($400mn) of shareholders’ loans it provided, thus helping...
by Amruth Sundarkumar | Jul 21, 2022 | China, Corporates, Distressed / Defaulted Bonds
China South City (CSC) launched a consent solicitation to extend the maturities and adjust coupons on 5 of its dollar bonds. The bonds in question are its 11.5% 2022s, 10.875% 2022s, 7.25% 2022s, 11.95% 2023s and 10.75% 2023s. CSC is asking bondholders to: Extend...
by Amruth Sundarkumar | Jul 20, 2022 | Financial News
Chinese real estate dollar bonds have slid across the board led by China South City, with relatively higher rated developers like Country Garden (Ba1/BB+/BBB) and Sino-Ocean (Baa3//BBB) in tow. Bloomberg notes that the most recent bond selloff in the sector is a...
by Amruth Sundarkumar | Jun 29, 2022 | China, High Yield Bonds
Bondholders of China South City agreed to amendment on five of its dollar bonds after it launched a consent solicitation in mid-June. It had sought to revise terms concerning “permitted bondholders” and the “change of control” on its 11.5%...
by Amruth Sundarkumar | Jun 1, 2022 | China, High Yield Bonds
Dollar bonds of China South City dropped by 7-9 points on Tuesday over continued concerns regarding the Chinese property sector. While there is no specific news on the developer, the fall in bond prices come after its peer Greenland Holding saw its dollar bonds drop...
