by Amruth Sundarkumar | Jan 6, 2022 | China, High Yield Bonds
Yuzhou Group is said to have talked with companies like JPMorgan and Haitong Securities about a possible debt exchange of its dollar bonds, as per Bloomberg citing financial intelligence provider REDD. However, which bonds might be included in a possible Yuzhou debt...
by Amruth Sundarkumar | Dec 2, 2021 | China, High Yield Bonds
Contracted sales across the top 100 Chinese developers in November dropped 38% YoY to RMB 751mn ($118mn). It was also a 32% MoM drop as per data from research firm China Real Estate Information. Yuzhou Group (B3/-/B-) has pledged its Shenzhen headquarters building as...
by Amruth Sundarkumar | Nov 5, 2021 | China, Credit Ratings, High Yield Bonds
Kaisa was downgraded to CCC+ from B with a negative outlook by S&P on diminishing liquidity and elevated refinancing risk. Kaisa has about $3.2bn in principal of offshore bonds due by October 2022. S&P estimates its liquidity sources to be less than 1x its...
by Amruth Sundarkumar | Oct 20, 2021 | China, High Yield Bonds
Yuzhou was downgraded by Moody’s to B2 from B1. Its senior unsecured bonds ratings were also downgraded to B3 from B2 due to structural subordination. The downgrade was on the back of Yuzhou’s weakened funding access and expectations that its financial...
by Amruth Sundarkumar | Oct 8, 2021 | China, High Yield Bonds
As per an exchange filing on October 6, Yuzhou Group Holdings’ Chairman and controlling shareholder Lam Lung-On purchased $5.55mn in principal of six of its dollar bonds. He bought: $2.55mn of its 6% 2022s, currently trading at 75.82 $600k of 8.5% 2024s,...
