China’s yearslong property slowdown has claimed another victim.
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Chinese property giant Country Garden failed to make an international debt payment and warned that it is unlikely to pay off all of its international debt obligations.
China Evergrande Group’s shares rose sharply as trading in the beleagured property developer resumed.
Spreads on dollar bonds issued by many Chinese companies remain relatively stable even as economists lower their growth projections for China.
Country Garden Holdings, a 31-year-old property developer that had been lauded by China’s authorities as a model for others, missed interest payments on two U.S. dollar bonds, marking a new…
Growing pessimism about China’s housing market is dragging down the country’s largest surviving developer, which is again struggling to convince investors that it can weather the storm.
“The risk of a run on a leading life insurer is remote,” said Josh Esterov of research-firm CreditSights.
Regional bank bonds are offering investors a “once-in-a-decade buying opportunity,” according to research firm CreditSights. Along with their shares, the bonds of regional banks have been hit hard since Silicon…
Because shale companies have focused on debt reduction as the priority for the substantial cash flow generated in 2022, most don’t need to issue new debt to refinance and have…
Nicholas Chen, an analyst at debt-research firm CreditSights, said there is a lot of uncertainty about the direction of the property sector, and few concrete developments in the debt restructurings…