The trials facing mainland corporates caught on the wrong side of Beijing policy changes loom large in today’s real estate headlines as Anbang and HNA try to sell off some of their harder-to-sell assets and mainstream developers face the prospect… Read More>>
China Evergrande Tests the “Too Big to Fail” Hypothesis With $1B Bond Sale at 11%
Debt-laden developer China Evergrande announced on Monday that it had sold $1 billion in senior notes due in 2020, with the new paper carrying 11 percent interest rates.
The company said that the fresh tranche of bonds, which were issued… Read More>>
China Vanke Buys Six Mainland Projects From Evergrande for RMB 355M
China Vanke has agreed to purchase six real estate projects in the provinces of Zhejiang and Jiangsu, as well as in the city of Chongqing, from a subsidiary of China Evergrande Real Estate, for a total of RMB 355 million… Read More>>
Shenzhen Tech Hub Plans RMB 3.6B Land Sale
The Shenzhen government late last month posted a public notice of its plans to sell a 181,000 square metre (1,948,267 square foot) site in the southern part of the city’s Nanshan district, that is expected to bring the local government… Read More>>
China Evergrande Paying Up to 13.75% for $1.8B in Bonds and More Asia Real Estate Headlines
Just one week after China Evergrande was reported to be shopping its most valuable offshore asset in return for a loan, the mainland’s most debt-happy developer has just sold $1.8 billion in bonds at interest rates of up to 13.75… Read More>>
Faraday Future Loses Bid to Terminate $2B Evergrande Deal
A request from Jia Yueting’s Faraday Future asking an arbitrator to void its $2 billion investment agreement with a unit of Evergrande Health Industry Group was rejected late last week, keeping the unit of China’s largest property developer by sales… Read More>>
Evergrande Hopes to Pawn Hong Kong Office Tower in Return for $1.5B Loan
The mainland’s largest developer by sales in 2017, China Evergrande Group, is resorting to pawning its most valuable offshore asset in an effort to raise $1.5 billion to pay down its debt and make dividend payments, according to a Reuters… Read More>>
Xu Jiayin Ranks as China’s Richest Property Person for Second Straight Year
China Evergrande Real Estate chairman and CEO Xu Jiayin leads the ranks of the mainland’s wealthiest real estate people for the second year in a row with assets estimated at RMB 215 billion ($31 billion), according to the annual Hurun Report… Read More>>
Evergrande’s $2B Investment in Faraday May Have a Limited Future
After enjoying a four month honeymoon following China Evergrande’s June decision to invest $2 billion in his Faraday Future electric car startup, mercurial mainland entrepreneur Jia Yueting is ready to call it quits with his latest white knight.
Evergrande Health,… Read More>>
Evergrande’s Calxon Spends RMB 595M to Expand Movie Theatre Business
Just over two years after spending $554 million to acquire Shenzhen-listed China Calxon Group, the mainland’s second-largest developer by sales may have finally found a use for the company once thought to give Xu Jiayin’s real estate giant a back-door… Read More>>
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