by Amruth Sundarkumar | Jul 29, 2022 | China, Corporates, Distressed / Defaulted Bonds
Property developer CK Asset Holdings has confirmed a bid for Chinese real estate giant Evergrande Group’s 26-story 345,000 sqft headquarters in Hong Kong. Last year, the group was looking to sell the building for $1.7bn to Chinese state-owned Yuexiu Property that fell...
by Amruth Sundarkumar | Jun 30, 2022 | Distressed / Defaulted Bonds
Hengda Real Estate Group, the onshore unit of Evergrande, saw bondholders approve proposals related to the repayment of RMB 8.2bn ($1.2bn) on its 6.98% bonds that are due in July 2022. It noted that three proposals related to the repayment of the notes were approved...
by Megha Malhotra | Feb 10, 2022 | China
Evergrande’s Chairman Hui Ka Yan said in an internal meeting on Sunday that the company needs to repay its debts by restoring construction activities, not by selling-off assets at fire sale prices. He vowed to complete 50% of pre-sold homes with a goal of...
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...
