by Amruth Sundarkumar | Mar 2, 2022 | China, Distressed / Defaulted Bonds
Yuzhou Group said that certain parties who claim to hold minority interests in its 6% and 8.625% bonds that were due on January 25 and 23, 2022, informed the developer that they intend to start legal action if it does not redeem the old notes. Yuzhou only recently...
by Amruth Sundarkumar | Jan 19, 2022 | China, Distressed / Defaulted Bonds
Moody’s cut Chinese property developer Agile’s corporate family rating to B1 from Ba2 and its senior unsecured rating to B2 from Ba3. This comes just a day after S&P downgraded Agile to B+ from BB-. Similar to most of the recent rating actions on...
by Amruth Sundarkumar | Jan 7, 2022 | China, Distressed / Defaulted Bonds, High Yield Bonds
Guangzhou R&F Properties’ dollar bonds fell over 7 points after its funds were insufficient to buy back its $725mn 5.75% bond due January 13, 2022 because its asset sales did not happen as planned. R&F said that in a filing late on Wednesday that the...
