Topics

Posted 9/26/2023, 5:01:14 AM

Evergrande Shares Fall Again as Key Unit Misses Bond Payment Amid Debt Crisis

China Evergrande Group shares fell for the second day after a unit missed a bond payment.
Evergrande's main domestic unit, Hengda Real Estate, failed to pay principal and interest on a 4 billion yuan bond due Sept. 25.
This comes after Evergrande said it couldn't issue new debt due to a probe into Hengda.
Hengda said it will negotiate with bondholders to find a solution and protect their rights.
Evergrande has proposed debt restructuring options like swapping debt into new 10-12 year notes.

reuters.com

Relevant topic timeline:

8/21/2023

China's Stock-Market Selloff Deepens After Underwhelming Rate Cut by Banks

Chinese shares dropped as banks in the country cut interest rates less than expected, with the benchmark one-year loan prime rate being lowered by 0.1 percentage point to 3.45%.

8/27/2023

China Evergrande first-half net loss narrows to $4.5 billion

China Evergrande Group, the world's most-indebted property developer, reported a narrower net loss for the first half of the year due to increased revenue, but it is still facing a crisis in China's property sector characterized by debt defaults and shattered consumer confidence in the country's economy.

8/28/2023

China Evergrande records $4.5 billion loss in first half of the year

China Evergrande Group, the heavily indebted real estate developer, is set to resume trading on Monday after a 17-month suspension, following a reported loss of $4.5 billion in the first half of the year.

8/28/2023

Markets Rally On Powell Comments, China Boosted By Duty Cut

Shares in Chinese property giant Evergrande collapsed as they resumed trading in Hong Kong after 17 months, while Asian markets advanced following Federal Reserve chief Jerome Powell's cautious approach to rate hikes and China's decision to cut the duty on trades.

9/6/2023

Evergrande soars 70% leading Chinese property stocks higher after Country Garden avoids default

Shares of Chinese property developer Evergrande surged as much as 82% on Wednesday, leading gains on the Hang Seng Index, following reports of successful bond coupon payments by Country Garden, signaling a potential recovery in the country's property sector.

9/18/2023

Evergrande Stock Plunges 25% as Police Detain Staff Amid Debt Crisis Engulfing China's Biggest Property Developer

Shares in crisis-hit China Evergrande have plunged by up to a quarter after the apparent detention of staff by police, reigniting concerns about the state of the company and China's wider property sector.

9/24/2023

China's Evergrande blocked from issuing new debt amid debt crisis, adding uncertainty to restructuring efforts

China Evergrande Group, a distressed property group, is unable to issue new debt due to an ongoing probe into its key subsidiary Hengda Real Estate Group, further complicating its efforts to restructure offshore debt.

9/25/2023

Evergrande Shares Plunge 25% as Debt Crisis Deepens, Other Chinese Property Stocks Also Fall

Shares of Evergrande, the embattled Chinese real estate firm, plummeted 25% after announcing a delay in its debt restructuring meeting, causing a sell-off in the sector and turning Evergrande into a penny stock.

9/25/2023

Evergrande Debt Crisis Sparks Fears for China's Economy

Distressed Chinese property developer Evergrande Group's debt fears weigh on Chinese stocks, raising concerns about the world's second-largest economy.

9/26/2023

Evergrande Misses Another Bond Payment, Deepening Fears Over China's Real Estate Crisis

Shares in Evergrande closed down 7% on Tuesday after the embattled property developer missed another bond payment, raising concerns about the company's ability to restructure its debt and the potential for a disorderly collapse that could damage China's wider economy.

9/28/2023

Evergrande Shares Suspended as Chairman Reportedly Placed Under Surveillance Amid Ongoing Debt Crisis

Shares of China Evergrande Group were suspended on Thursday by Hong Kong's exchange, as the chairman of the embattled real estate developer is reportedly under surveillance.

10/3/2023

Evergrande Stock Soars 40% on Resumed Trading Despite Ongoing Debt Crisis and Investigation of Founder

Shares of Chinese real estate giant Evergrande have surged after trading in the company resumed in Hong Kong following a temporary suspension, amidst investigations into its billionaire founder and a default on its debts, triggering a property crisis in China.

Topics

Posted 9/26/2023, 5:01:14 AM

Evergrande Shares Fall Again as Key Unit Misses Bond Payment Amid Debt Crisis

China Evergrande Group shares fell for the second day after a unit missed a bond payment.
Evergrande's main domestic unit, Hengda Real Estate, failed to pay principal and interest on a 4 billion yuan bond due Sept. 25.
This comes after Evergrande said it couldn't issue new debt due to a probe into Hengda.
Hengda said it will negotiate with bondholders to find a solution and protect their rights.
Evergrande has proposed debt restructuring options like swapping debt into new 10-12 year notes.

reuters.com

Relevant topic timeline:

8/21/2023

China's Stock-Market Selloff Deepens After Underwhelming Rate Cut by Banks

Chinese shares dropped as banks in the country cut interest rates less than expected, with the benchmark one-year loan prime rate being lowered by 0.1 percentage point to 3.45%.

8/27/2023

China Evergrande first-half net loss narrows to $4.5 billion

8/28/2023

China Evergrande records $4.5 billion loss in first half of the year

8/28/2023

Markets Rally On Powell Comments, China Boosted By Duty Cut

9/6/2023

Evergrande soars 70% leading Chinese property stocks higher after Country Garden avoids default

9/18/2023

Evergrande Stock Plunges 25% as Police Detain Staff Amid Debt Crisis Engulfing China's Biggest Property Developer

9/24/2023

China's Evergrande blocked from issuing new debt amid debt crisis, adding uncertainty to restructuring efforts

9/25/2023

Evergrande Shares Plunge 25% as Debt Crisis Deepens, Other Chinese Property Stocks Also Fall

9/25/2023

Evergrande Debt Crisis Sparks Fears for China's Economy

Distressed Chinese property developer Evergrande Group's debt fears weigh on Chinese stocks, raising concerns about the world's second-largest economy.

9/26/2023

Evergrande Misses Another Bond Payment, Deepening Fears Over China's Real Estate Crisis

9/28/2023

Evergrande Shares Suspended as Chairman Reportedly Placed Under Surveillance Amid Ongoing Debt Crisis

Shares of China Evergrande Group were suspended on Thursday by Hong Kong's exchange, as the chairman of the embattled real estate developer is reportedly under surveillance.

10/3/2023

Evergrande Stock Soars 40% on Resumed Trading Despite Ongoing Debt Crisis and Investigation of Founder