by Amruth Sundarkumar | Dec 8, 2021 | China, Distressed / Defaulted Bonds
Chinese developer Golden Wheel Tiandi is in discussions with bondholders to amend the terms on three of its outstanding dollar bonds, that includes a possible maturity extension. The three bonds in question are its $121.506mn 12.95% 2022s, $178.495mn 14.25% 2023s and...
by Amruth Sundarkumar | Oct 6, 2021 | China, High Yield Bonds
Chinese real estate developers’ dollar bonds saw carnage yesterday after Fantasia’s default. What started as a drop in investor sentiment towards the sector beginning with the systemic impact of Evergrande, has now translated into a domino-effect with most...
by Amruth Sundarkumar | Sep 29, 2021 | China, High Yield Bonds
Chinese developer Golden Wheel Tiandi reported an 89% YoY drop in gross profits to RMB 13.3mn ($2.06mn) for 1H2021 with its gross margins falling massively from 29.1% to a mere 1.1%. The company attributed the poor results to its gross loss generated from the sale of...
by Amruth Sundarkumar | Sep 28, 2021 | China, High Yield Bonds
Dollar bonds of Chinese HY developers dropped again yesterday. Besides Evergrande, Fantasia and Sunac, those of Kaisa, Greenland Holdings, Golden Wheel Tiandi and Xinyuan Real Estate fell 3-4% as concerns over the property market continues to weigh on these bonds....
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,...
