by Megha Malhotra | Aug 26, 2021 | China, High Yield Bonds
Chinese real estate developer Kaisa Group Holdings reported strong 1H earnings on Wednesday. Revenues rose by 34.8% to RMB 30.07bn ($4.64bn), gross profit was up 23.1% to RMB 9.28bn ($1.43bn) and net profit for the six months ended June 30 was up 30.5% to RMB 3.08bn...
by Amruth Sundarkumar | Aug 4, 2021 | China, High Yield Bonds
Kaisa’s dollar bonds jumped over 4-6% on Tuesday. Kaisa’s 11.5% 2023s rallied the most, by 6.5% followed by its 9.375% 2024s and 9.95% 2025s which were up 6.4% and 6.2%. Its other bonds also rallied over 4%, recovering some of the losses in the prior weeks...
by Amruth Sundarkumar | Jul 30, 2021 | China, High Yield Bonds
Dollar bonds of other Chinese property developers (ex Evergrande) fell over 3% on Thursday. Growing concerns over Evergrande coupled with Beijing’s crackdown seem to be having a ripple effect on other Chinese developers’ bonds including names such as...
by Amruth Sundarkumar | Jun 1, 2021 | China, High Yield Bonds
Bonds of Chinese property developers trended lower led by China Evergrande, whose bonds have been moving lower for the last four days after a Caixin report stated that the regulator CBIRC launched a probe into the company’s transactions with Shengjing Bank Co. Besides...
by bondevalue | May 11, 2021 | China, High Yield Bonds
Kaisa Group completed an exchange and tender offer for its $3bn 9.375% bonds due June 2024. $1.58bn in principal, or 51.78% of the outstanding bonds were validly tendered. Up to $500m (maximum acceptance level) of notes validly tendered will be exchanged for new 11.7%...
