Indebted mainland developer China Evergrande Group was forced to deny reports that it was pleading for a bailout yesterday, after a document circulating on Chinese social media indicated that the firm was pleading for government support to avoid financial catastrophe.
Evergrande Boss Xu Jiayin RMB 14.6B Richer as China’s 2nd-Largest Developer Announces Dividend
China’s third-richest man is about to add RMB 14.6 billion ($2.1 billion) to his personal fortune after China Evergrande Group proposed its dividend for the 2018 financial year in an announcement on the Hong Kong stock exchange on Sunday.
The… Read More>>
Chinese Estates Owners Buy $1.1B of Evergrande Bonds
Chinese Estates Holding director Kimbee Chan Hoi-wan and members of her husband Joseph Lau’s family purchased a third of $3 billion in senior unsecured bonds issued by China Evergrande Group late last month, swelling the clan’s portfolio of the top-three mainland… Read More>>
Mainland Gaming Firms Lease 30% of New Manila Office Space and More Asia Real Estate Headlines
Any property investment has an element of risk, but games of chance appear to have become a primary driver of Manila’s real estate market, as China’s gambling fans take up nearly a third of the Filipino capital’s new office space… 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>>
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>>
CIC, Hillhouse Plot $13B Buyout of Yum China and More Asia Real Estate Headlines
It’s bring your billions to the table week in Asia as an investment consortium led by Zhang Lei’s Hillhouse Capital assembles capital intensive dream team to buy China’s collection of KFC, Pizza Hut and Taco Bell stores, at the same… Read More>>
Evergrande Said to Bet $300M on Jia Yueting’s Faraday Future
Chinese property tycoon Sun Hongbin said he had never regretted anything until he blew $2 billion backing Jia Yueting’s troubled conglomerate LeEco. But the teary-eyed confession by the chairman of Sunac Holdings doesn’t seem to have given rival property baron… Read More>>
Evergrande Goes High Tech With $16B Plan for AI, Robotics and Life Science Deals
After failed attempts to sell Evergrande-branded cooking oil and bottled water, Chinese property tycoon Xu Jiayin has fixed on AI and quantum physics as the newest business opportunities for the country’s second-ranked home builder by contracted sales.
Xu’s Evergrande Group… Read More>>
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