Dollar bonds from Chinese real estate developer Yuzhou Group recovered slightly after bond prices plummeted late last week following the release of its earnings guidance leading to a credit rating downgrade. The company will release its earnings later today. The company’s dollar bonds’ topped the gainers list today, with its 7.85% 2026s and 6.35% 2027s recovering by 7.5 and 6.5 points to 84.13 and 82.30 this morning, yielding 11.9% and 10.5% respectively. Despite the recovery, Yuzhou’s dollar bonds remain ~10 points below its price last week before the downgrade to B1 from Moody’s.
Yuzhou’s Bonds Recover Slightly
