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 exchange were unclear according to sources. The developer has also not commented on the news. Yuzhou has two dollar bonds maturing later this month – a $242m 8.625% bond due January 23 and a $350mn 6% due January 25.
Yuzhou’s dollar bonds were trading lower – its 8.5% 2023s are down 5.5 points to distressed levels of 24.43 cents on the dollar.