China South City’s Dollar Bonds Witness Correction On Debt Swap Report; Denies Claims
Dollar bonds of China South City fell over 4-5 points and its 11.5% 2022s fell 8.6 points to 81.70. Bloomberg notes that financial intelligence company REDD reported that the company was considering a debt exchange. However, a company official called the story...
Shenzhen SOE to Become China South City’s Largest Shareholder with $245mn Equity Bail Out
Shenzhen SEZ Construction and Development Group (SZCDG), a state-owned enterprise will make an equity investment of HKD 1.9bn ($245mn) in China South City to become its largest shareholder. China South City plans to use the proceeds from the share placement to repay...
China South City Downgraded to B- from B
Integrated logistics and trade center operator China South City (CSC) was downgraded to B- from B by S&P due to slowing cash generation and increased refinancing risk amid tough capital market conditions. While CSC has taken steps to sell non-property development...
