Asia real estate and outbound investment news
China’s largest developer appears to be preparing for default on more than $17 billion in offshore debt obligations as it approaches a 17 October bond payment deadline amid collapsing sales.
Country Garden Holdings alerted the Hong Kong stock exchange early… Read More>>
Chinese developer Country Garden appears headed for a full-scale restructuring after announcing Wednesday that “significant uncertainties” exist regarding the settlement of onshore bonds with an issued amount in excess of RMB 14.6 billion ($2 billion).
The lion’s share of the… Read More>>
Country Garden Real Estate Group has shown signs of deeper financial challenges as the company halted trading of 11 onshore bonds beginning Monday, prompting investors to drive its shares to their lowest level since the company’s 2007 IPO.
Ranked as… Read More>>
Country Garden Holdings, China’s largest developer by sales in 2022, warned late Thursday that it expects to report a loss of RMB 45 billion to RMB 55 billion ($6.26 billion to $7.65 billion) for the first six months of the… Read More>>
Mainland developer Ronshine China Holdings has defaulted on its third set of offshore bonds in a little over three months after failing to pay off a $700 million note that matured this week.
The Singapore-listed bonds carry a coupon rate… Read More>>
China’s property crisis continues to spread with CIFI Holdings, a Shanghai-based developer which has received government support in securing new financing, disclosing this week that it has defaulted on an onshore trust loan.
Credit intelligence provider Reorg reported Wednesday that… Read More>>
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>>
