by Amruth Sundarkumar | Jul 14, 2021 | China, Credit Ratings, Distressed / Defaulted Bonds
Sichuan Languang has been downgraded to D by S&P after it missed the payment of its onshore CNY 900mn ($139mn) 7.5% 2021s that matured on Sunday. Including the interest and the principal, the developer failed to repay ~CNY 968mn ($149.5mn) on the medium-term...
by Amruth Sundarkumar | Jul 13, 2021 | China, Distressed / Defaulted Bonds
Chinese property developer Sichuan Languang has joined the list of defaulted Chinese developers after it failed to repay its local CNY 900mn ($139mn) 7.5% 2021s that matured on Sunday. The default comes after the company failed to raise capital for the repayment and...
by Amruth Sundarkumar | Jul 9, 2021 | China, Distressed / Defaulted Bonds
Sichuan Languang and its subsidiaries reported $383mn of overdue debt due to a liquidity crunch, involving both bank and trust loans; however, not in bonds or other debt instruments. The property developer announced that it was uncertain whether its local CNY 900mn...
by Amruth Sundarkumar | Jun 7, 2021 | China, High Yield Bonds
Chinese real estate developer Sichuan Languang Development Co. saw its dollar bonds, issued by Hejun Shunze Investment, plummet 7-10 points on Friday as investor concerns continue to build up over the company’s liquidity position. It’s 8.85% bonds due...
by Amruth Sundarkumar | Jun 1, 2021 | China, Credit Ratings, High Yield Bonds
Chinese property developer Sichuan Languang Development was downgraded by a notch to B3 and B- by Moody’s and S&P respectively. Moody’s also changed the outlook to negative and S&P placed them on CreditWatch Negative. Both rating agencies primarily cited...
