by Amruth Sundarkumar | Sep 28, 2022 | China, Corporates, Distressed / Defaulted Bonds
Distressed property developer China Evergrande will work with Shenzhen Longgang Ancheng Investment Operation Co Ltd, owned by the Shenzhen government in order to complete four property development projects. The projects are situated in the tech hub of Longgang...
by Amruth Sundarkumar | Sep 22, 2022 | China, Corporates, Distressed / Defaulted Bonds, High Yield Bonds
Chinese property developer CIFI Holdings was downgraded to BB- from BB with a negative outlook by Fitch on the reduction in its liquidity buffer and higher leverage. In 1H 2022, its liquidity deteriorated with cash resources falling 30%. Fitch estimates that...
by Amruth Sundarkumar | Sep 14, 2022 | China, Corporates, Distressed / Defaulted Bonds
China Evergrande has promised to restart the remaining of its 38 stalled property projects by end of September, as per the FT. The distressed developer is trying to alleviate concerns that led to mortgage boycotts by homebuyers on its unfinished projects. The company...
by Amruth Sundarkumar | Sep 6, 2022 | China, Corporates, Distressed / Defaulted Bonds, High Yield Bonds
China Evergrande’s winding-up petition has been pushed to November 7 from the earlier stated September 5, as per the developer’s exchange filing citing the Hong Kong High Court’s announcement. The petition relates to an investor in the company, Top...
by Amruth Sundarkumar | Aug 31, 2022 | China, Corporates, Distressed / Defaulted Bonds
Bondholders of China Evergrande are said to have pushed their own plans for the developer’s debt restructuring. Sources added that the creditors submitted a proposal with a framework to restructure Evergrande’s $20bn in offshore debts. Kirkland & Ellis and...
