All Eyes on It
$EVERGRANDE(03333.HK$ will try restructuring on Monday to reign in its default. They admitted Friday they cant pay Mondays loan due. One risk is that Beijing may not have a full picture of how indebted Evergrande and its peers have become. The Shenzhen-based developer indicated in its exchange filing on Friday that it may not be able to fulfill its pledge to guarantee payment on a $260 million note issued by joint venture Jumbo Fortune Enterprises, an obligation that many Evergrande investors didn’t even know existed until a few months ago.
Bond investors have been anticipating an Evergrande restructuring for months, with the company’s 2025 dollar notes trading below 30 cents since the end of September.
Money managers are bracing for a potential default by $KAISA GROUP(01638.HK$, which faces a $400 million bond maturity on Tuesday after failing to swap the notes for new ones due 18 months later.
Bond investors have been anticipating an Evergrande restructuring for months, with the company’s 2025 dollar notes trading below 30 cents since the end of September.
Money managers are bracing for a potential default by $KAISA GROUP(01638.HK$, which faces a $400 million bond maturity on Tuesday after failing to swap the notes for new ones due 18 months later.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
八闽之子 : It feels like you are a global stock market encyclopedia
Mr Trecherous :
Mr Trecherous 八闽之子:
Mcsnacks H TupackOP Mr Trecherous: You really want to know why there’s a Supply crunch? Here it is: 25% of Chinas market, the housing sector, can’t payback their loans or finish building presold housing. These companies will Payback their countries loans before any foreign ones to do that tho they will have to raise prices on exports to astronomical levels which will then cause all foreign companies In China to close up and find cheaper places to manufacture their goods. It’s a domino of collapse. You can forget about getting any products From China after this month.
Mcsnacks H TupackOP Mr Trecherous: The market is about to be F-Ed up! Companies that aren’t making profits or don’t have a lot of cash on hand or are under 5.00 will be wiped out of the stock market by February.
Mr Trecherous Mcsnacks H TupackOP: Horre Shet
Mcsnacks H TupackOP Mr Trecherous: Evergrande Is the largest housing company to ever crash. A half a trillion dollar company. Let’s just hope China doesn’t get too desperate because then the only way to fix their money problems is by going to War.
Dusk till Dawn Mcsnacks H TupackOP: This is an internal problem.
I don't think China will want to go to war, trade war maybe.
Both China and USA leaders deep down know that no one will be the winner, if this lead down to a war.
Mr Trecherous Mcsnacks H TupackOP:
Mr Trecherous Mcsnacks H TupackOP: I watched the videos of the families that lost generations of saved wealth trying to commit suicide in the lobby of their headquarters. Hate to see people that low. no hope
View more comments...