by Amruth Sundarkumar | Jul 27, 2021 | China, High Yield Bonds
Bonds of Chinese property developers Fantasia, R&F Properties, Yuzhou and Evergrande fell as Chinese officials reiterated their tougher debt and financing restrictions on the sector, along with its rhetoric on refraining from using real estate to stimulate the...
by Amruth Sundarkumar | Jul 15, 2021 | China, High Yield Bonds
Yuzhou Group’s dollar bonds have been trending higher since the firm started buying back its dollar bonds a week earlier. Yuzhou’s bonds had been moving lower since the beginning of June with concerns on Evergrande spilling over to peers. Prior to that in March,...
by Amruth Sundarkumar | Jun 2, 2021 | China, High Yield Bonds
Evergrande’s (B2/B+/B) dollar bonds continued to slide, this time pulling bonds of peers Yuzhou (B2/B+) and Central Plaza/Beijing Capital (Ba3/BB+/BB) along. Evergrande’s 12% 2024s were down over 4% to 88 cents on the dollar continuing the decline since news of the...
by bondevalue | Apr 8, 2021 | China, Credit Ratings, High Yield Bonds
Fitch Ratings downgraded Yuzhou to B+ from BB- keeping a stable outlook. The downgrade was driven by weaker-than-expected revenue recognition in 2020. Fitch cited slower revenues, weaker profitability and a small land bank as downsides. While Yuzhou reported total...
by bondevalue | Apr 1, 2021 | China, High Yield Bonds
Chinese real estate developer Yuzhou Group Holdings announced that it has bought back some of its bonds and shares from the open market in a bid to instill some confidence in investors. This comes after its stock and bonds took a beating post a profit warning and...
