by Amruth Sundarkumar | Dec 2, 2022 | China, Distressed / Defaulted Bonds
Sunac China agreed to sell roughly 90% of its stake in one of its most valuable projects in Shanghai to two state-owned investors. As part of the transaction, it sold a 64.7% stake in its Oceanwide Construction Holdings unit to a unit of China Huarong Asset Management...
by Amruth Sundarkumar | Nov 21, 2022 | China, Distressed / Defaulted Bonds
Kaisa Group is said to have delayed talks with offshore creditors on the terms of its debt restructuring, as per Reuters reports. The talks were expected to begin in October and may not start until 1H 2023. LL Tam, the adviser at Kaisa is said to have taken over...
by Amruth Sundarkumar | Nov 17, 2022 | China, Distressed / Defaulted Bonds
China Evergrande’s stalled residential project in Henan province saw the city of Kaifeng buy 1,050 flats from the developer, as per Caixin Global. The city bought these flats in order support the ailing sector as well as to expand local supply of subsidized...
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 | Sep 28, 2022 | China, Corporates, Distressed / Defaulted Bonds
Distressed property developer China Evergrande will work with Shenzhen Longgang Ancheng Investment Operation Co Ltd, owned by the Shenzhen government in order to complete four property development projects. The projects are situated in the tech hub of Longgang...
