by Amruth Sundarkumar | May 31, 2021 | China, High Yield Bonds
Chinese developer Golden Wheel Tiandi has launched an exchange offer on two of its dollar bonds – 12.95% 2022s and 14.25% 2023s – capped at $145mn. The issuer is proposing to exchange the older bonds for new ones to be issued at par, a maturity of July 11,...
by bondevalue | Apr 20, 2021 | China, Credit Ratings, High Yield Bonds
Chinese homebuilder Golden Wheel Tiandi (GWT) was downgraded by Fitch to CCC+ from B- on weak liquidity, refinancing risks and a deterioration of their business profile. Fitch said that the downgrade also reflects the likelihood of the company having difficulties...
