Chinese developers like Times China, Powerlong, Agile have bought back a combined $132mn of bonds based on Monday filings maturing across March and April 2022. The decline in prices across Chinese real estate company bonds has allowed them to buyback bonds at a steep discount to par:

  • Times China reported that it repurchased $82.8mn of two dollar bonds from January 10 to February 28. It bought back $49.576mn of its 5.75% bonds due April 2022 and $33.2mn of its 5.3% bonds due April 2022. Both of the above bonds are trading at 76-78 cents on the dollar
  • Agile noted  that it bought back $44.1mn of its 6.7% bonds due March 2022. The bond currently trades at 94.1 cents on the dollar.
  • Powerlong said it bought back $5mn of its 3.9% bonds due April 2022. The bonds currently trade at 87.4 cents on the dollar.

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