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>>
In today’s roundup of regional news headlines, Zhongliang Holdings has become the latest Chinese developer to seek extension for debt repayment as the property downturn persists in China and investors have deserted the Hong Kong office sector during the first… Read More>>
Sunac China failed to pay $29.5 million in interest on $750 million in senior notes within a grace period that ended Wednesday, sending the mainland’s third-largest developer by contracted sales into default.
In a statement to the Singapore stock exchange,… Read More>>
Sunshine 100 China Holdings Ltd on Sunday became the latest Chinese developer to default on an overseas bond when the Beijing-based builder failed to repay $170 million of principal and $8.93 million of interest on notes due that day.
The… Read More>>
Beijing-based builder Modern Land China failed to repay the principal and interest due on a $250-million dollar bond due Monday, making it the latest Chinese developer to miss dollar bond payments reflecting deepening financial stress in the real estate sector.
China Vanke, the mainland’s biggest property firm by market value, last week appeared set to buy 19.9 percent of embattled villa developer Tahoe Group for RMB 2.4 billion ($343 million), however, that plan now appears in doubt.
The stake sale,… Read More>>
Just seven months after leading the $5.2 billion acquisition of the world’s most expensive building, a little-known Beijing energy firm has defaulted on a $350 million international bond, according to a filing to the Hong Kong Stock Exchange by the… Read More>>
A Chinese shipbuilder belonging to the same group of companies as troubled developer Glorious Property Holdings Ltd (HKG:0845) has asked bondholders not to demand their money back, as it struggles to restructure its finances.
Rongsheng Heavy Industries, which was founded… Read More>>
China saw its second commercial bond default within a month on Friday when a Jiangsu construction company failed to make an interest payment on a RMB 180 million (US$29 million) bond, and the country’s financial markets reacted by climbing during… Read More>>