by Amruth Sundarkumar | Jul 1, 2022 | Distressed / Defaulted Bonds
Following Modern Land’s Chapter 15 bankruptcy petition in June, its proposed offshore restructuring scheme has been approved by a total of 370 of their creditors, according to HKEX. These creditors represent an aggregate principal amount of $1.27bn, which amounts to...
by Amruth Sundarkumar | Jun 6, 2022 | China, Distressed / Defaulted Bonds
Modern Land China filed for Chapter 15 bankruptcy in New York on Friday, a move that allows the company to protect its US assets while implementing a restructuring elsewhere. This comes after the developer failed to repay a $250mn bond due in October 2021 and said it...
by Amruth Sundarkumar | Mar 25, 2022 | China, High Yield Bonds
Greenland Holdings’ dollar bonds have been trending higher this week. While the exact reason for the rally was not known, the rally comes despite details of its financial troubles breaking out on March 15, where sources said that SOEs stepped-in to rescue the...
by Amruth Sundarkumar | Jan 11, 2022 | China, Distressed / Defaulted Bonds, High Yield Bonds
China Evergrande has switched its headquarters in Shenzhen to its own property in Guangzhou in an effort to save costs. However, its registered place has not changed and is still in Shenzhen. “Returning to Guangzhou is a return home, which will help to gain more...
by Amruth Sundarkumar | Oct 26, 2021 | China, Distressed / Defaulted Bonds
Modern Land (China) missed the dollar bond coupon and maturity payment on its $250mn 12.85% bonds due October 25. The developer is working with its legal counsel Sidley Austin and expects to engage independent financial advisors soon to assess its capital structure...
