| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

Bond Market News

More Chinese Property Developers’ Bonds Fall

Dollar bonds of other Chinese property developers (ex Evergrande) fell over 3% on Thursday. Growing concerns over Evergrande coupled with Beijing’s crackdown seem to be having a ripple effect on other Chinese developers’ bonds including names such as Kaisa, R&F Properties and Zhenro Properties. All three companies are single-B rated names. While Kaisa and Zhenro meet all the three red lines thresholds, R&F breaches two. For a report on widening spreads of Chinese developers’ dollar bonds and three red lines calculations, click here. Besides these three issuers’ bonds, Greenland’s dollar bonds also traded weaker with its 5.875% bonds due 2024 falling 2.9 points to 76.625 cents on the dollar on Thursday.

EDF’s USD 3.625% 2025s were unchanged at 110.18. It’s EUR 2% 2049s were up 0.41 to trade at 114.3.

For the full story, click here
Related Posts:
Registered office: 8 Marina View, #43-062 Asia Square Tower 1, Singapore 018960
© Copyright BondbloX 2023, All Rights Reserved.