Chinese developer Logan Group has provided new details of the “holistic” approach it will take to work through its $6.6 billion debt load, including the suspension of interest payments on five sets of offshore bonds maturing over the next six… Read More>>
Debt holders have denied a request by China Evergrande’s primary onshore unit to delay repayment of a RMB 4.5 billion ($670 million) bond, turning up the heat on the world’s most leveraged developer as it faces a winding-up threat in… Read More>>
Ronshine China Holdings has failed to make interest payments totalling $27.9 million on two sets of offshore bonds with a combined outstanding principal of $726 million, putting the mainland developer at risk of accelerated redemption.
Ronshine missed a 9 June… Read More>>
Mainland developer Shimao Group failed to pay off a $1 billion offshore bond that came due on Sunday, etching its name in the list of Chinese real estate firms defaulting on dollar-denominated debt.
Shimao owed more than $1.02 billion in… Read More>>
Heavily indebted China Evergrande is fighting a winding-up petition filed by an investor in the developer’s Fangchebao online platform as the firm readies its restructuring plan, according to a Hong Kong stock filing on Tuesday.
“The company will oppose the… Read More>>
Sunac China Holdings is asking holders of RMB 4 billion ($600 million) of its domestic notes to accept a second rescheduling of payments as the mainland developer struggles to raise cash due to weak sales.
Representatives of Sunac Real Estate,… Read More>>
In today’s roundup of regional news headlines, China’s Zhenro Properties is set for another offshore bond default, the property arm of Hong Kong’s Nan Hai suspends all staff for six months amid financial woes, and a pair of Singapore condo… Read More>>
Fantasia Holdings Group said it will vigorously oppose a 24 May winding-up petition in the Cayman Islands over $149 million of outstanding loan facilities which has frozen its assets and brought a halt to a string of asset sales.
Flower… Read More>>
In today’s roundup of regional news headlines, Shanghai-backed Greenland Holdings rattles markets with its proposal to delay a bond redemption by one year, while defaulting developer China Evergrande unveils its own scheme to compensate offshore debt holders.
Sunac China Holdings showed its grasp of the politics of Chinese debt over the weekend, with the top-five mainland developer reportedly making payment on a local bond less than a week after defaulting on offshore notes. Also in the news,… Read More>>