by Amruth Sundarkumar | Feb 23, 2023 | China, High Yield Bonds
Dollar bonds of China South City soared higher by over 6 points across the curve. The move occurred after the Shenzhen government was said to have held a meeting to discuss facilitating a syndicated loan to China South City on the company’s Wechat account....
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%...
