by Amruth Sundarkumar | Jan 26, 2023 | China, Distressed / Defaulted Bonds
Ronshine China missed the redemption of its $413mn 8.95% bonds due January 2022. The principal and accrued and unpaid interest combined, amounted to $431.48mn was unpaid. Ronshine said that it will be in talks with creditors for a resolution to its debt issues, to...
by Amruth Sundarkumar | Oct 27, 2022 | China, Distressed / Defaulted Bonds
Sino-Ocean Capital (of which Sino-Ocean Group owns a 49% stake) extended the payment on its 6% dollar bond due October 25 by replacing it with a similar coupon note due next year. The new bond has an outstanding principal of $282.3mn. Amid the Chinese property market...
by Amruth Sundarkumar | Jul 12, 2022 | Corporates, Credit Ratings, Distressed / Defaulted Bonds
Ronshine China Holdings failed to make coupon payments of $27.9mn on two of its dollar bonds with a combined principal outstanding of $726mn. The company missed the coupon payment of $12.8mn on its 8.1% bonds due June 2023 after the grace period ended on July 9. It...
by Amruth Sundarkumar | Apr 18, 2022 | China, Distressed / Defaulted Bonds, High Yield Bonds
China’s E-House may have insufficient funds to repay its $298.2mn 7.625% dollar bonds maturing today (April 18), as per an exchange filing. The developer notes that it continues to explore ways to secure the funds. As per the bond’s conditions, a default...
by Amruth Sundarkumar | Mar 23, 2022 | China, Distressed / Defaulted Bonds, High Yield Bonds
Sunac China was downgraded three notches to Caa1 from B1 with a negative outlook, reflecting heightened liquidity and refinancing risks. Similar to Ronshine, Moody’s believes that the announcement of a delay in its annual 2021 financials weighs on its...
