Sino-Ocean Group is appealing to creditors for more time to meet payments coming due by 5 August on $1.8 billion in offshore bonds, according to a statement to the Hong Kong exchange late on Wednesday, as the mainland developer faces… Read More>>
Chinese Builder KWG Wins Consent for $1.6B Offshore Bond Swap
KWG Group Holdings this week became the latest Chinese developer to restructure its offshore bonds as the country’s 43rd-largest builder by contracted sales said Wednesday that it had won approval from its investors to swap $1.6 billion in notes maturing… Read More>>
China Homebuyers Stop Paying for Stalled Projects and More Asia Real Estate Headlines
Mainland China’s housing market leads Mingtiandi’s headline roundup again today as research by Citigroup finds that homebuyers across Asia’s largest economy have begun withholding payments on purchases in delayed projects. A Hong Kong developer also has some worrying news as… Read More>>
Tahoe Sells Stake in Hangzhou Project in Scramble to Repay RMB 3B Bond This Week
Facing a 28 March deadline to repay principal and interest on a RMB 3 billion ($450 million) bond, Tahoe Group issued a statement to the Shenzhen stock exchange today reassuring investors that the financially troubled mainland developer would be able… Read More>>
Guangzhou R&F Aims for RMB 13B Bond After RMB 6B Note Sale Shot Down
Top 20 mainland developer R&F Property had a RMB 6 billion corporate bond plan officially terminated by the Shanghai Exchange last week, despite a trend toward mainland regulators re-opening domestic bond issues for real estate companies.
The canceled notes, which… Read More>>
Most Private Developers May Have Just Lost Access to China’s Bond Markets
The walls continue to close in on small and mid-sized property developers in China after financial regulators reportedly slammed the door to new domestic bond issues for companies not measuring up to newly devised standards. Reports in official Chinese media… Read More>>
Evergrande Said at 6.2% Risk of Default as Chinese Bond Market Wobbles
China’s Evergrande Real Estate increased its debt load by 90 percent last year to RMB 297 billion ($45.8 billion), and now the property developer is said to have a 6.2 percent chance of defaulting on its repayments in the next… Read More>>
China Ghost City Developer Could Default on $186M Bond This Week
One of China’s most famous ghost cities could churn out a new kind of horror this week after a real estate developer based in the Inner Mongolian city of Ordos revealed last week that it is struggling to repay bonds… Read More>>
Kaisa Could Face Wind-Up Petition Over Skipped Payments on $2.2B in Bonds
Chinese real estate developer Kaisa Holdings, which teetered on the edge of collapse earlier this year after failing to meet its debt obligations, could be threatened with insolvency again after repeatedly failing to make coupon payments on its bonds.
US… Read More>>
Glorious Coughs Up Coupon Payment After Creditors Interview Lawyers
Glorious Property, the Shanghai-based real estate developer that missed missed debt payments repeatedly this year, has made good on a coupon obligation after bond holders sought legal advice, according to media reports.
The property firm belonging to troubled tycoon Zhang… Read More>>