This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
Some of Sino-Ocean’s Bondholders Flag Missed Dollar Bond Payment
July 17, 2023
Two of Sino-Ocean’s dollar bondholders holding its 2025s said that they are yet to receive coupons on the notes that were due July 13. The coupons totaled $7.02mn and the notes have a 14-day grace period before non-payment would be considered an event of default. This has once again heightened fears of default risk about the company and also renewed the broad concerns around the sector. Sino-Ocean has about $380mn of debt payments due in Q3. HSBC’s credit analyst Keith Chan noted that Sino-Ocean would suspend offshore debt payments and instead pursue a holistic debt restructuring.
Sino-Ocean’s dollar bonds are trading at deeply distressed levels of 12-15 cents on the dollar.
Go back to Latest bond Market News
Related Posts:
Sino-Ocean Downgraded to B- by Fitch
April 12, 2023
Sino-Ocean Downgraded to CCC+ by Fitch
June 27, 2023
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.