by bondevalue | May 21, 2021 | China, Investment Grade Bonds
Most of Huarong’s bonds have dropped below their recent lows even as the company repaid its $300mn 3.3% bond due Thursday. The repayment was widely expected as the company wired funds for the redemption a few days back, but another week of delay in its results and...
by bondevalue | May 19, 2021 | China, Investment Grade Bonds
Embattled bad debt manager, China Huarong Asset Management has provided some relief to its creditors after it wired $300mn to pay its 3.3% 2021’s due on Thursday. The company, one of the four biggest distressed asset management firms in China, was reported to...
by bondevalue | May 18, 2021 | Asian Dollar Bonds
China Huarong Asset Management Co. is said to have closed funding arrangements with China’s state-owned lenders to repay debts due through “at least the end of August”, as per people familiar with the matter reported by Bloomberg. The sources added...
by bondevalue | May 14, 2021 | China, Investment Grade Bonds
China Huarong said that their liquidity position was “fine” and that they made “proper arrangement” and “adequate preparation” for future bond payments. In a response to Bloomberg, Huarong also said that “At present, there is no factual basis to indicate any change in...
by bondevalue | May 7, 2021 | China, Investment Grade Bonds
Huarong said that it has wired funds to pay coupons on five offshore bonds due today. The state-owned bad-debt manager’s latest move is considered an effort to reduce concerns on its financial health. The bonds include their 4% Perps, up 0.2 to trade at 67.9. Huarong...
