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Bond Market News
China South City’s Dollar Bonds Witness Correction On Debt Swap Report; Denies Claims
January 5, 2022
Dollar bonds of China South City fell over 4-5 points and its 11.5% 2022s fell 8.6 points to 81.70. Bloomberg notes that financial intelligence company REDD reported that the company was considering a debt exchange. However, a company official called the story “nonsense” with its investor relations head Ben Wang telling Bloomberg that the builder has no plans of a debt-swap. China South City recently received a positive signal as Shenzhen SEZ Construction and Development Group (SZCDG), a state-owned enterprise said it will make an equity investment of HKD 1.9bn ($245mn) in the developer.
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