We use cookies to improve your experience. By using BondbloX, you agree to our use of cookies.
Bond Market News
Huarong to Dispose-off 7 Units with $109bn in Assets as part of Restructuring
June 17, 2021
Caixin Media’s WeNews states that China Huarong has begun disposing seven units, of which one operates in non-performing asset trading and one is a local asset-management company, with a combined CNY 700bn ($109bn) in assets as part of a restructuring. Caixin reports that this will help repay billions in local bonds and reduce financial risks. They mention that Huarong’s total assets will now fall to ~CNY 1tn ($156bn) after the asset sales. The news is the latest update on the bad-debt AMC as speculation continues on its financial health and state support to the company. Huarong did not comment or confirm on the news.
Huarong’s dollar bonds were largely stable – its 2.875% Perps were at 80.1.
For the full story, click here
Go back to Latest bond Market News
Related Posts:
Our Awards
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.