China Real Estate Updates – November Sales, Yuzhou’s Loan, Aoyuan’s Sale, Zhenro’s Buyback
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...
Times China, Zhenro, KWG Dollar Bonds Drop Sharply
Dollar bonds of Chinese property developers continue to trade weaker. Some bonds of Times China, Zhenro and KWG fell over 10% while most were down over 6% yesterday. The mayhem across the sector continues more a couple of months after Evergrande’s troubles with...
Zhenro’s Dollar Bonds Jump after $33mn Buyback
Zhenro Properties’ dollar bonds soared as the developer used $33mn to repurchase 7 of its 14 dollar bonds across the curve. The developer said that it will continue to monitor market conditions and its financial structure and may further repurchase its senior...
