by Megha Malhotra | Sep 2, 2021 | China, Financial News, High Yield Bonds
Wednesday saw another round of selling in Evergrande’s dollar bonds as they fell another 3 points to now trade in the 30s. The latest selloff was after the company released 1H earnings in which they warned of a possible default as its liabilities keep piling up...
by Megha Malhotra | Sep 1, 2021 | China, Financial News, High Yield Bonds
Troubled China Evergrande Group warned that “it has risks of default and cases of litigation outside its normal business” in its 1H2021 earnings release. The property developer acknowledged that negative reports adversely affected its liquidity, which led...
by Megha Malhotra | Aug 31, 2021 | China, High Yield Bonds
China Evergrande cannot seem to catch a break as the flow of bad news continues for the highly indebted group. In the latest, Evergrande’s Hong Kong-listed EV unit China Evergrande New Energy Vehicle Unit Ltd (NEV) warned of production delays should the company...
by Megha Malhotra | Aug 26, 2021 | China, High Yield Bonds
China Evergrande Group issued a profit warning via an exchange filing of a drop of 29-39% in profits for 1H2021 at a time when the group is under pressure for its mounting liabilities. The group expects its net profits to come in at ~RMB 9-10.5bn ($1.41-1.62bn) for...
by bondevalue | May 28, 2021 | China, High Yield Bonds
China Evergrande’s bonds fell on Caixin Media’s WeNews reporting that the China Banking and Insurance Regulatory Commission (CBIRC) is examining more than CNY 100bn ($15.7bn) of transactions between the developer and Shengjing Bank Co. WeNews notes that...
