Jump to content
House Price Crash Forum

Evergrande (Merged threads)


Recommended Posts

0
HOLA441
10 minutes ago, msi said:

China backs 2 stronger property companies with $16.8bn credit line

 

China's 3rd Largest bank offers credit lines to 5 developers - amount not disclosed

China's 6th Largest bank offers $16.8Bn to 2 developers

 

Are these developers 'close' to the Party to pull this off?  It's small change to Evergrande and feels more like a favour rather than a full scale support package.

 

This was flagged a few weeks back as policy to 'support loans to developers to deliver homes' - so a bailout but you aren't allowed to call it a bailout even though its like the bailouts in the West

Link to comment
Share on other sites

  • 3 months later...
  • Replies 542
  • Created
  • Last Reply

Top Posters In This Topic

1
HOLA442

Evergrande: Crisis-hit Chinese property giant offers debt restructuring plan

Embattled Chinese property giant Evergrande has announced plans for restructuring around $20bn (£16.2bn) in offshore debt, which could be seen as a model for other struggling developers....Evergrande has more than $300bn in liabilities and defaulted on its debts in late 2021.

Chinese property stocks fall after Evergrande reveals restructuring plan

...The company on Wednesday released details about restructuring $19.1bn worth of debt, about 84 per cent of its total offshore leverage. The plan allows creditors to swap debt into new notes with a maturity of 10 to 12 years...It said in the event of a liquidation, offshore creditors would see an estimated recovery rate of about 2 to 9 per cent.

 

 

The CCP say take more IOUs to replace your existing IOUs and if you complain you will be sh*fted.  They have learnt well from the Tories 

Link to comment
Share on other sites

  • 1 month later...
2
HOLA443

https://www.youtube.com/watch?v=eRzw85--9hg

Tried to post the video but I got a 403 error, so hopefully the link should work.

China Evergrande Extends Debt Plan Deadline After Support Falls Short

Apr 28, 2023

Embattled developer China Evergrande Group has extended a deadline for investors to vote on its restructuring plan after failing to win enough support for the massive overhaul. Evergrande says holders of more than 77% of its Class A debts support the plan, but only 30% of Class C holders endorsed it. Kevin Kingsbury reports on Bloomberg Television.

Link to comment
Share on other sites

  • 2 months later...
3
HOLA444
4
HOLA445

Worldwide low IR, credit fueled BOOM!!!

Shares in the firm, which was once China's top-selling property developer, have been suspended from trading since March last year.

China's real estate industry was rocked when new rules to control the amount big real estate firms could borrow were introduced in 2020.

The following year, Evergrande missed a crucial deadline and failed to repay interest on around $1.2bn of international loans.

Link to comment
Share on other sites

5
HOLA446
1 hour ago, Debt Slaves said:

Worldwide low IR, credit fueled BOOM!!!

Just like the UK. And as regards the future:

BEIJING, July 18 (Reuters) - China is entering an era of much slower economic growth, raising a daunting prospect: it may never get rich.

Whether the world's second-largest economy chugs ahead at 3-4% annually or flirts, as some economists expect, with Japan-like "lost decades" of stagnation, it looks set to disappoint its leaders, its youth, and much of the world.

https://www.reuters.com/world/china/will-china-ever-get-rich-new-era-much-slower-growth-dawns-2023-07-18/

And if that's the worlds second biggest economy, what chance the UK with it's sky-high costs.

 

Link to comment
Share on other sites

6
HOLA447

I forgot about this dog. Wonder who's left holding the bulging poo bags :)

Link to comment
Share on other sites

7
HOLA448
8
HOLA449
9
HOLA4410
9 minutes ago, shlomo said:

When you hear things like this it makes you realise the UK is in good shape

UK housing value hit a record high of £8.68 trillion in 2022..

Great shape and in good hands. What could possibly go wrong? The youth have never had it so good, the future has never been so rosy. 😁

Link to comment
Share on other sites

10
HOLA4411
7 minutes ago, Nomadd said:

UK housing value hit a record high of £8.68 trillion in 2022..

Great shape and in good hands. What could possibly go wrong? The youth have never had it so good, the future has never been so rosy. 😁

Effectively every country in the world has participated in this, we are not alone

Link to comment
Share on other sites

  • 4 weeks later...
11
HOLA4412

Not quite the delicious buffet that Evergrande has been serving us these past few years, but a further step in the right direction.

China property giant Country Garden warns of up to $7.6bn loss

https://www.bbc.co.uk/news/business-66470170

Quote

Problems in China's property sector - which includes everything from building homes to industries making white goods that go in them - can have a major impact on the country as it accounts for around a third of the economy.

:blink:

Link to comment
Share on other sites

12
HOLA4413
13
HOLA4414

The property sector in China is still struggling, and the market has been punishing Country Garden since mid July. Look at that Yield!

Btw Country Garden is just China's biggest private property developer

 

More than a month old but for the posterity in this thread: 

Evergrande: Crisis-hit Chinese property giant reveals $81bn loss

https://www.bbc.co.uk/news/business-66229701

Link to comment
Share on other sites

14
HOLA4415

Evergrande: China property giant files for US bankruptcy protection

https://www.bbc.co.uk/news/business-66540785

Quote

 

Property giant Evergrande has filed for bankruptcy protection in the US as the real estate crisis in China deepens. It will allow the heavily-indebted company to protect its assets in the US as it works on a multi-billion dollar deal with creditors.

Evergrande defaulted on its huge debts in 2021, which sent shockwaves through global financial markets. The move comes as problems in China's property market add to concerns about the world's second largest economy.

China Evergrande Group made the Chapter 15 bankruptcy protection filing in a New York court on Thursday. Chapter 15 protects the US assets of a foreign company while it works on restructuring its debts.

Evergrande did not immediately respond to a request for comment from the the BBC.

The group's real estate unit has more than 1,300 projects in more than 280 cities in the country, according to its website. Its other businesses include an electric car maker and a football club.

 

 

Link to comment
Share on other sites

15
HOLA4416
16
HOLA4417
On 11/08/2023 at 06:08, Huggy said:

Not quite the delicious buffet that Evergrande has been serving us these past few years, but a further step in the right direction.

China property giant Country Garden warns of up to $7.6bn loss

https://www.bbc.co.uk/news/business-66470170

:blink:

Scary, the whole economy now in trouble looks like?

Link to comment
Share on other sites

17
HOLA4418
18
HOLA4419
19
HOLA4420
20
HOLA4421

Does Xin Xin (BVI) still have an interest?

Where do you think Xin Xin (BVI) is based?

https://www.dnb.com/business-directory/company-profiles.xin_xin_(bvi)_limited.714838bdfd29b7056f523d537600d6c2.html

Link to comment
Share on other sites

21
HOLA4422
22
HOLA4423
23
HOLA4424
On 18/08/2023 at 13:14, dances with sheeple said:

Scary, the whole economy now in trouble looks like?

A $7.6bn loss in China is nothing.  The Chinese economy is $19 trillion in size.  That's a loss equivalent to 0.04% of the economic output of the country.  Not great for the company concerned, but on its own would be a speed bump at best.  However, it is not alone of course.

Link to comment
Share on other sites

24
HOLA4425
On 14/08/2023 at 08:49, Freki said:

 

It's this sort of thing that reminds me that I just don't understand.

If the company staggers on till its next dividend, you'd be quids in.

The current (notional) yield implies that nobody thinks it will survive that long. I suppose it's a long shot punt and if you make enough, you might hit a winner? Like Greek bonds a decade ago.

 

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    • No registered users viewing this page.




×
×
  • Create New...

Important Information