


Chinese Offshore Bonds Drop as Diversion vs Onshore Bonds Takes Place
Chinese property offshore and onshore bonds have diverged, with holders of the former witnessing the most losses as developers focus debt efforts on local investors. For example, Bloomberg notes that Yuzhou Group’s and Shimao Group’s dollar bonds have...
Yuzhou Seeks Government Bailout on $548mn of Bonds Due April; Sunac Onshore Default Likely
Yuzhou Group is seeking a government bailout for its $548mn in onshore and offshore debt due April, Caixin reports. The Chinese developer is in talks with state-backed investors with the assistance of local authorities to take over some of its domestic bonds. No final...
Yuzhou Defaults on Bond Coupon after Grace Period Expires
Another Chinese property developer, Yuzhou Group Holdings has defaulted on a dollar bond coupon payment of $21.5mn after it failed to make the payment within the 30-day grace period that ended on March 4. In an exchange filing, Yuzhou said that the missed payment on...