by Amruth Sundarkumar | Oct 15, 2021 | China, Distressed / Defaulted Bonds
China’s Xinyuan Real Estate announced that holders of $207.68m worth (90.7%) of its $229m 14.2% bonds due October 15 have agreed to exchange them for new bonds and cash. Having successfully completed the exchange offer, the company has avoided possible default....
by Amruth Sundarkumar | Oct 11, 2021 | China, Distressed / Defaulted Bonds
China’s Xinyuan Real Estate and its senior unsecured notes were downgraded to C from CCC by Fitch. The downgrade is on account of Xinyuan’s exchange offer last week for its $229mn 14.2% bonds due October 15, 2021 for new bonds due 2023, which Fitch...
by Amruth Sundarkumar | Oct 6, 2021 | China, High Yield Bonds
Xinyuan Real Estate said it will hold calls to update bondholders on an exchange offer and consent solicitation regarding its outstanding $229mn 14.2% bonds due October 15 2021. There are two options under the exchange offer: Option 1: Bondholders would receive $60 in...
by Amruth Sundarkumar | Sep 28, 2021 | China, High Yield Bonds
Dollar bonds of Chinese HY developers dropped again yesterday. Besides Evergrande, Fantasia and Sunac, those of Kaisa, Greenland Holdings, Golden Wheel Tiandi and Xinyuan Real Estate fell 3-4% as concerns over the property market continues to weigh on these bonds....
by Amruth Sundarkumar | Sep 6, 2021 | Corporates, Credit Ratings, High Yield Bonds
Xinyuan Real Estate and its senior unsecured notes have been downgraded by Fitch to CCC from B- on account of heightened refinancing risk on its outstanding $229mn 14.2% bonds due October 2021 and internal control weaknesses, as highlighted by the continued delay in...
