Asia real estate and outbound investment news
S&P Global Ratings on Wednesday downgraded Greenland Holding after judging the mainland developer’s payment extension on an offshore bond as a default in all but name.
The agency cut the long-term issuer rating on Greenland, whose controlling shareholder is Shanghai’s… Read More>>
Jingrui Holdings has failed to make on-time interest payments on four sets of offshore bonds, with the developer blaming the defaults on the impact of China’s COVID-19 lockdown measures in the group’s home base of Shanghai and other key cities.
Sunac China Holdings has become the latest mainland developer to raise the spectre of default, announcing Friday that it was unlikely to redeem two onshore bonds with a combined balance of RMB 6 billion ($940 million) when they come due… Read More>>
Hong Kong-listed Fullsun International lost control of its maiden investment in the city this week, with the developer announcing on Monday that receivers have been appointed for its 79-unit residential asset at 6 La Salle Road.
The remaining units and… Read More>>
Following media reports within the last week that two of China Evergrande’s largest assets have been seized by creditors, the defaulting mainland developer confirmed late Sunday that it had lost control of a 2.2 million square foot (204,387 square metre)… Read More>>
China Aoyuan Group has become the latest mainland developer to default on its financial obligations, announcing Wednesday that it would not make payments on $1.09 billion in offshore notes scheduled to mature in the next three years, including two sets… Read More>>
Guangzhou R&F Properties may have avoided default and gained an extra six months to repay a $750 million offshore note that came due on Thursday, but S&P Global Ratings has labelled the group’s delaying tactic a default in all but… Read More>>
In today’s roundup of regional news headlines, a unit of developer Shimao defaults on a $101 million project loan, Japan’s Mitsui Fudosan enters a deal to buy a London development site, and Kaisa bondholders seek advice on a potential financing… Read More>>
A Hong Kong hedge fund led by a professional poker player sees China Aoyuan Group as a busted flush, and Nine Masts Capital has joined Citibank in taking legal action to recoup more than $131 million owed to them by… Read More>>
Sinic Holdings is staring at the prospect of a second $250 million default on offshore debt since mid-October, with the developer, which ranked as China’s 35th largest in 2020 by contracted sales, saying Wednesday that payments on a set of… Read More>>
