by Amruth Sundarkumar | Feb 20, 2023 | China, Distressed / Defaulted Bonds
Zhongliang Holdings announced the preliminary terms of its restructuring plan where it plans to offer offshore unsecured creditors an exchange of their debt for either of the following: New senior notes with an amortization of the principal repayment and a 4Y maturity...
by Amruth Sundarkumar | Jun 14, 2022 | China, Distressed / Defaulted Bonds
Zhongliang Holdings completed an exchange offer for portions of its 8.5% bonds due May 2022 and 9.5% bonds due 2022. This was its second exchange offer after the developer in mid-May, completed an exchange offer for $262.17mn, or 90.47% of the May 2022s and...
by Amruth Sundarkumar | Jun 8, 2022 | China, Credit Ratings, Distressed / Defaulted Bonds
Chinese real estate entity Zhongliang Holdings’ long term rating was downgraded to RD (Restricted Default) from ‘C’ by Fitch on the completion of an exchange offer for 90.47% of its May 2022s and 83.66% of its July 2022s for a combination of new a...
by Amruth Sundarkumar | Jun 1, 2022 | China, Distressed / Defaulted Bonds
Chinese property developer Zhongliang Holdings Group seeks to exchange any or all of its remaining $27.63mn 8.5% bonds due May 2022 and its $71.17mn bonds due July 2022, according to an HKEX filing. In mid-May, the company completed an exchange offer for $262.17mn, or...
by Amruth Sundarkumar | May 11, 2022 | China, Distressed / Defaulted Bonds
Zhongliang Holdings is said to have become the latest victim of China’s three red lines policy, as per SCMP. The company is currently under liquidity stress and has given creditors more time to accept an exchange offer on two of its dollar bonds. The bonds in...
