by Amruth Sundarkumar | Aug 16, 2021 | China, High Yield Bonds
Yuzhou Group said on Friday that had it repurchased $2mn of its outstanding 8.3% 2025s and $1mn of its outstanding 7.375% 2026s. After the buyback, the outstanding principal of the 2025s and 2026s stands at $486mn and $636.5mn respectively. While the size 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...
by bondevalue | Mar 31, 2021 | China, High Yield Bonds
Yuzhou reported net income at CNY 117mn ($18mn) and revenues of CNY 10.4bn ($1.6bn) for 2020, down 97% and 55% YoY in line with the warning by the real estate developer last week. While revenues fell, contracted sales hit a record high in 2020 , up ~40% YoY to CNY...
by bondevalue | Mar 30, 2021 | China, High Yield Bonds
Dollar bonds from Chinese real estate developer Yuzhou Group recovered slightly after bond prices plummeted late last week following the release of its earnings guidance leading to a credit rating downgrade. The company will release its earnings later today. The...
