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...
Yuzhou Bondholders Plan to Take Legal Action; DaFa Properties Plans Debt Restructuring
Yuzhou Group said that certain parties who claim to hold minority interests in its 6% and 8.625% bonds that were due on January 25 and 23, 2022, informed the developer that they intend to start legal action if it does not redeem the old notes. Yuzhou only recently...
