Yuzhou Launches Exchange Offer for 2 USD Bonds; Consent Solicitation for 12 Bonds
Yuzhou Group launched an exchange offer to extend by the maturity of two USD-denominated bonds due in January by one year with new bonds. This is in order to avoid an outright default on the bonds. Yuzhou plans to exchange its $340mn 6% bond due January 25 and...
Yuzhou Cut to Caa2 and CCC- by Moody’s and Fitch
Yuzhou Group was downgraded to Caa2 and CCC- by Moody’s and Fitch from B2 and B. The downgrades were on account of increased refinancing risks due to weakened funding access and sizable maturing debt. Yuzhou has to refinance $350mn of its 6% bonds due January...
Yuzhou Said to be Holding Talks on Debt Swap
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...
