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...
by bondevalue | Apr 23, 2021 | China, High Yield Bonds
China Evergrande plans to sell onshore bonds worth CNY 8.2bn ($1.3bn) to repay upcoming debts. The bonds will be issued by subsidiary Hengda Real Estate with a 5Y maturity and proceeds from the sale will be used to meet an early repayment request due on May 6 made by...
by bondevalue | Apr 13, 2021 | China
Bloomberg in a study of Chinese real estate developers’ three red-lines metrics saw that almost half of China’s 66 major property developers met all the requirements as of end-December 2020 . Of the three red lines, namely cash to short-term debt, net-debt to equity,...
