by Amruth Sundarkumar | Oct 7, 2021 | China, High Yield Bonds
As the turmoil in Chinese property developers’ dollar bonds unfolds, some developers bought back small quantities of their dollar bonds in a bid to lend confidence to investors. Central China Real Estate (CCRE) repurchased $13.9mn in principal of three of its...
by Amruth Sundarkumar | Oct 6, 2021 | China, High Yield Bonds
Chinese real estate developers’ dollar bonds saw carnage yesterday after Fantasia’s default. What started as a drop in investor sentiment towards the sector beginning with the systemic impact of Evergrande, has now translated into a domino-effect with most...
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...
