Intentional mass mortgage default by homebuyers at a delayed Evergrande project in Jingde town of Jiangxi province late last month has proved contagious, with data from CRIC as of 13 July showing that buyers of 106 projects across 47 cities… Read More>>
Singapore’s Temasek Increases Exposure To Home City As Portfolio Hits Record $297B
Singapore’s Temasek Holdings saw its portfolio hit a record high of S$403 billion ($297 billion) in the year to 31 March, as the sovereign fund re-established the Lion City as its biggest single-country investment location and cut back on its… Read More>>
PAG Opportunistic Funds Get $20M Boost From Texas Teachers
PAG has secured $20 million in capital commitments from the Teacher Retirement System of Texas for the Hong Kong private equity shop’s two newly created opportunistic real estate funds.
TRS is investing $10 million each in PAG’s Kona Co-Invest and… Read More>>
HSBC Leads $717M Refinancing of London’s Cheesegrater for CC Land
Mainland China developer CC Land Holdings has secured £605 million ($716.82 million) in fresh financing for its “Cheesegrater” office tower in London in a deal led by HSBC, according to a statement by the banking giant on Monday.
HSBC’s UK… Read More>>
R&F Wins Extension on $5.1B in Bonds in Asia’s Largest Real Estate Debt Restructuring
Guangzhou R&F said on Monday that it has won approval from holders of 10 sets of offshore bonds to restructure the terms of the debt obligations and give the financially troubled mainland developer additional time to pay off the notes.
URA Tender Closes for $305M Project in Hong Kong’s Western District
A tender for a residential project in Hong Kong Island’s Western district closed on Monday having drawn nine bids for the opportunity to build housing worth HK$2.4 billion ($305.7 million) in Sai Ying Pun, according to an announcement from the… Read More>>
HK Court Orders Goldin’s Pan to Wind Up Holding Firm After $1B Default
Hong Kong’s high court has ordered Pan Sutong to wind up his holding firm and file for bankruptcy after the mainland tycoon failed to repay HK$8 billion ($1 billion) borrowed five years ago to finance the privatisation of his Goldin… Read More>>
Evergrande Onshore Creditors Reject Extension of RMB 4.5B Bond
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>>
Wheelock Closes in on $2.5B Residential Project in Kowloon Bay
Wheelock Properties is taking final steps toward building a HK$20 billion ($2.5 billion) residential project in Hong Kong’s Kowloon Bay, having reportedly submitted an application to redevelop an industrial property in the area into 1,782 new homes.
The developer controlled… Read More>>
Ronshine China Holdings Defaults on $726M in Offshore Bonds
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>>
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