by Amruth Sundarkumar | Apr 20, 2022 | China, Distressed / Defaulted Bonds
China’s E-House defaulted on its $298.2mn 7.625% bonds due April 18, 2022, as was expected based on its warning on Monday. This has triggered a cross default wherein holders of its 2023s will now be able to request to accelerate payment. The developer suspended...
by Amruth Sundarkumar | Apr 18, 2022 | China, Distressed / Defaulted Bonds, High Yield Bonds
China’s E-House may have insufficient funds to repay its $298.2mn 7.625% dollar bonds maturing today (April 18), as per an exchange filing. The developer notes that it continues to explore ways to secure the funds. As per the bond’s conditions, a default...
by Amruth Sundarkumar | Feb 24, 2022 | China, High Yield Bonds
E-House was cut to CCC from B by S&P with a negative outlook. The downgrade comes on the back of high repayment pressure for its $300mn bonds due April 2022 and beyond amid deteriorating liquidity. While S&P noted that “it is not entirely impossible for...
by Amruth Sundarkumar | Oct 14, 2021 | China, Credit Ratings, High Yield Bonds
Chinese real estate services company, E-House (China) Enterprise Holdings Ltd has been downgraded to B from B+ by S&P over tough operating conditions and tightening liquidity. S&P concurrently cut its long-term rating on its dollar bonds to B from B+. The...
by bondevalue | Apr 30, 2021 | China, High Yield Bonds
Alibaba Group Holding is set to increase its stake in E-House to 22.6% from 8.3% through a HKD 2.4bn ($309mn) deal as it looks at expanding its online real estate sales platform into one of the country’s largest property agencies. With the deal, Alibaba will...
