by Amruth Sundarkumar | Dec 3, 2021 | China, Distressed / Defaulted Bonds, High Yield Bonds
Kaisa Group in an exchange filing said it is exploring alternative solutions after bondholders rejected its debt swap to extend the maturity of its $400mn 6.5% bonds due December 7, 2021. For the debt swap to be accepted, Kaisa required a 95% approval rate. While it...
by Amruth Sundarkumar | Nov 22, 2021 | China, Distressed / Defaulted Bonds
Chinese real estate developer Yango Group announced via an exchange filing late last week that it will be issuing new bonds worth $669.9mn as part of its bond swap launched a few weeks ago. The new bonds that carry a coupon of 10.25% and mature on 15 September 2022...
by Amruth Sundarkumar | Nov 19, 2021 | China, Distressed / Defaulted Bonds
Chinese developer Yango Group won support from bondholders on extending the maturity of its US dollar bonds to avoid a default. Yango received an acceptance rate of 87.66%, 92.41% and 87.98% for its 5.3% 2022s, 10.25% 2022s and 10% 2023s, respectively, above the...
by Amruth Sundarkumar | Nov 15, 2021 | China, Distressed / Defaulted Bonds
Yango Group has made progress on extending the maturity of its dollar bonds to avoid a default. The company also extended the deadline for its exchange offers and consent solicitations to November 17 from November 12. Yango had launched an exchange offer and consent...
by Amruth Sundarkumar | Nov 1, 2021 | China
Yango Group has launched an exchange offer and consent solicitation for its dollar bonds as per an HKEX filing. The exchange offer is for three of its bonds – 10% 2023s , 5.3% 2022s and 10.25% 2022s. The minimum acceptance amounts for the bonds are $209.95mn,...
