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151 articles matching the search query.
China's bond markets slump again as new Evergrande deadline passes
Chinese property firms' bonds were hit with another wrecking ball on Monday as Evergrande looked set to miss its third round of bond payments in as many weeks and rivals Modern Land and Sinic became the latest scrambling to delay deadlines.
How Evergrande's Rags-to-Riches Founder Is Trying to Save His Empire
(Bloomberg) -- Four years after vying with Jack Ma for the title of Asia’s richest man, Evergrande chairman Hui Ka Yan’s fortune is plunging and his sprawling real estate empire is on the verge of collapse.Most Read from BloombergNYC's Waldorf Gets Plush Renovation, Becomes Icon of China's OverreachHow France Turned the Humble Roundabout Into a Showcase for ArtTycoon Behind a Crisis-Era Property Crash Now Sits on a $9 Billion Debt MountainWhat the Front Line of the U.S. Abortion Fight in Kentuck
Evergrande’s million-dollar economist says his bid to cut debt was ignored
The account of events by the developer’s brains trust offers a glimpse into Evergrande’s journey from a developer of mass-market homes into a conglomerate teetering on the brink of collapse with US$300 billion in liabilities and businesses from electric cars to a professional football team.
Evergrande punishes 6 execs who cashed out early on the company's investment products while it faces a $300 billion debt
The executives redeemed wealth management products while the company said it couldn't repay retail investors on time, but have since returned the money.
Beyond Evergrande, China’s Property Market Faces a $5 Trillion Reckoning
Developers have run up huge debts. Now sales are down, Beijing is imposing borrowing curbs, buyers are balking at prices, and even demographics are looking dimmer. The government is trying to address the situation without damaging the economy.
Evergrande’s Electric-Car Unit Plunges After Warning of Cash Shortage
Shares of debt-riddled developer’s new-energy vehicle subsidiary fell as much as 26% in early trading, taking their decline this year to about 94%
Trading of China's Evergrande shares in Hong Kong suspended
HONG KONG (AP) — Shares in troubled real estate developer China Evergrande Group and its property management unit Evergrande Property Services were suspended from trading in Hong Kong on Monday as investors awaited the next steps in the saga of its debt crisis.
Evergrande makes partial repayment to Chinese high-yield debt investors
Embattled developer is said to have repaid 10 per cent of money owed to buyers of its domestic high-yield wealth management products. The balance hangs in the air amid disapproval from local authorities.
Evergrande Investors Say They’re Yet to Get USD Bond Coupon
Two holders of a China Evergrande Group dollar bond with a coupon due Wednesday said they hadn’t received payment as of 8:00 a.m. Hong Kong time Thursday.
No More Free Lunch for Evergrande NEV Staff as Coffers Run Dry
In another sign of how grim things are getting at China Evergrande Group, its electric-car unit has stopped providing free lunches and other at-work meals to research center staff and asked employees to extend their leave beyond the upcoming October Golden Week holiday, people familiar with the matter said.
What One of China’s Biggest Property Companies Can Tell Us About Debt
If you want to avoid being seen to cross any red lines, you could simply go dark.China’s authorities have introduced the “ three red lines” targets as a way of trying to encourage the country’s vast real estate sector to deleverage. Companies who don’t meet the required thresholds under the new program — such as a 70% ceiling on the ratio of liabilities to assets — will have their growth restricted.While there are many ways of minimizing the appearance of debt on one’s balance sheet — including
China Keeps Cash Engine Running in Ninth Day of Injections
China’s central bank injected liquidity into the financial system for a ninth day in the longest run since December as it sought to meet a surge in seasonal demand for cash.
China Evergrande to Sell Bank Stake to State-Owned Firm for $1.5 Billion
The deal is the latest sign that the country’s authorities are trying to help the property giant resolve some of its financial troubles.
World’s Top Pension Fund JPIF Won’t Buy Chinese Sovereign Debt
Japan’s Government Pension Investment Fund, the world’s largest pension fund, said it won’t include yuan-denominated Chinese sovereign debt in its portfolio.
Evergrande Losing Control of Bank Unit in $1.5 Billion Deal
China Evergrande Group is poised to lose control of its most valuable financial unit after agreeing to sell a bank stake for about 10 billion yuan ($1.5 billion), as the troubled developer scrambles to offload assets to address its debt crisis.
China and Evergrande Ascended Together. Now One Is About to Fall.
The property giant’s success mirrored the country’s transformation from an agrarian economy to one that embraced capitalism. Its struggles offer a glimpse of a new financial future.
Evergrande Bondholders Mull Next Steps in Wake of Missed Payment
Foreign investors in the Chinese property giant’s debt face the challenge of navigating an uncertain, complicated international restructuring.
Sunac Isn’t Evergrande—but It Is on Shaky Ground
Property developers that partied the hardest during China’s housing boom are naturally set for a more painful hangover. China Evergrande is the most salient example. Investors fear that Sunac China could be another.
Sunac Leads Rebound in Chinese Property Stocks
The real-estate developer played down a leaked request for government help, and the country’s central bank said it wants healthy development of the property market.
