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China Bohai Bank is seeking to dispose of $4 billion in bad loans as part of a strategy to shore up capital. The bank has proposed selling $3.5 billion worth of assets at a discount through a public tender to bidders, including national bad debt managers. Concurrently, China Fortune Land Development, a major Chinese real estate developer, is attempting to resolve its debt by working with a buyer to purchase bonds at deeply discounted prices, which it plans to cancel. This approach is outside of its restructuring agreements and involves private contracts with bondholders and a third party. The exact source of the funding for these maneuvers remains unclear.
Severn Trent Plc has mandated banks for new bonds which will give an indication of investors’ appetite for UK water companies debt as Thames Water, the sector’s largest, teeters on the brink of junk https://t.co/3AgUuIgFcr
The source of the money is shrouded in mystery. But a major Chinese real estate developer appears to be trying a novel approach to resolving its debt: it is working with a buyer to purchase bonds at deeply discounted prices, then canceling the securities. https://t.co/VKn264nhCe
The source of the money is shrouded in mystery. But a major Chinese real estate developer appears to be trying a novel approach to resolving its debt: it is working with a buyer to purchase bonds at deeply discounted prices, then canceling the securities. https://t.co/dOpAxFag66
