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Bond Market News
Over 30 COGARD Projects White-Listed for Support as per Reports
February 5, 2024
Over 30 projects of Country Garden’s (COGARD) have been put on “white-list” to receive support from the Chinese local governments, according to a news report by Reuters. Its whitelisted projects included those from provinces of Henan, Hubei, Sichuan, Shandong and the municipality of Chongqing. COGARD also hoped that its projects in Guangdong and Hunan provinces enter the whitelist, according to the report. On Sunday, according to reports by Caixin, 16 projects of Shimao and over 20 projects of Jinke had also entered such white lists.
COGARD’s bonds continue to trade at deeply distressed levels of 7-9 cents on the dollar
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