by Amruth Sundarkumar | Mar 28, 2023 | China, Distressed / Defaulted Bonds
Troubled Chinese developer Shimao Group plans to sell its hotel property located near Hong Kong’s airport, as per sales agent JLL. The asking price is quoted at HKD 6.5bn ($828mn) as per Reuters as the defaulted developer tries to sell its assets amid its debt...
by Amruth Sundarkumar | Dec 1, 2022 | China, Distressed / Defaulted Bonds, High Yield Bonds
Four Chinese property developers namely Hubei Fuxing Technology, Shimao Group and Xinjiang Beixin Road & Bridge and Xiamen C&D have come forward to issue shares after the relaxation in policy regarding developers’ equity financing. Among the planned...
by Amruth Sundarkumar | Nov 2, 2022 | China, Distressed / Defaulted Bonds
China Evergrande got a notice of enforcement from Shengjing Bank for unrecoverable funds. The bank said that the developer did not pay RMB 32.6bn ($4.48bn) that was lent to its unit from 2020 to 2021. As per Reuters, Evergrande’s 30.99% stake in Xinjiang...
by Amruth Sundarkumar | Oct 11, 2022 | China, Distressed / Defaulted Bonds
Chinese property developers Shimao Group and China SCE’s main units missed payments on RMB 1.6bn ($225mn) of trust borrowings. Xiamen Zhongjun Industrial Co., a unit of SCE and one of the guarantors, failed to repay its 50% share of a trust product due at...
by Amruth Sundarkumar | Sep 22, 2022 | Financial News
China Fortune Land Development’s (CFLD) debt restructuring plan for its offshore bonds has been met with resistance from its creditors. Advisers of an ad-hoc bondholder group of CFLD’s dollar bonds have planned a conference call for all creditors later...
