by Amruth Sundarkumar | Apr 28, 2023 | China, Distressed / Defaulted Bonds
Representatives of Greenland Holdings have told some bondholders that the developer is in the process of remitting funds offshore to pay coupons on its 6.75% 2025s that were due March 26. The notes have a 30-day grace period before the missed coupon worth $17mn is...
by Amruth Sundarkumar | Jan 9, 2023 | China, High Yield Bonds
Dollar bonds of Greenland Holding rose by over 15% on Friday. The company reached an agreement with Minyoun Hospitality to sell a 52% stake in its hotel management unit for RMB 624mn ($92mn). Greenland’ hotel management unit is currently held via its fintech...
by Amruth Sundarkumar | Dec 8, 2022 | Credit Ratings, Distressed / Defaulted Bonds
Greenland Holding was upgraded to CCC- from Selective Default (SD) by S&P, post which the issuer asked for its ratings to be withdrawn. S&P said that it reassessed Greenland’s credit profile after it extended the maturity of its bonds. Greenland has...
by Amruth Sundarkumar | Nov 23, 2022 | China, Distressed / Defaulted Bonds
Greenland Holding won approval of bondholders’ to extend maturities of its dollar bonds as per a regulatory filing, Bloomberg notes. This comes about a week after the company defaulted on its $300mn 5.6% dollar bond due November 13. In the beginning of November,...
by Amruth Sundarkumar | Nov 16, 2022 | China, Distressed / Defaulted Bonds
Greenland Holding missed paying the principal on its outstanding $362mn 5.6% bond that was due on November 13. At the end of October, the developer warned that it would likely default on the above bond and launched a consent solicitation, to extend maturities for nine...
