![]() ![]() Contact us at or | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. ![]() Join interviews & editorial and be featured on or join Investments, Private Wealth, Family Office events. Have a product launch? Promote a product or service? List your service at The Financial Centre | TFC. ![]() List hard-to-find financial & private wealth services. Find financial, investment, private wealth, family office, real estate, luxury investments, citizenship, law firms & more. Find hard-to-find $3 million to $300 million financial & investment services at The Financial Centre | TFC. Join Investments, Private Wealth, Family Office events in Hong Kong, Singapore, Asia-wide. Subscribe to Caproasia and receive the latest news, data, insights & reports, events & programs daily at 2 pm. Investing $3 million to $300 million.įor Investment Managers, Hedge Funds, Boutique Funds, Private Equity, Venture Capital, Professional Investors, Family Offices, Private Bankers & Advisors, sign up today. Sun obtained a master’s degree in engineering from Tsinghua University in the PRC in 1985 and completed an advanced management program at Harvard Business School in the United States in 2000. Sun commenced his real estate business in 1994 and has accumulated over 20 years of ample experience in the real estate industry in the PRC over the years. SUN Hongbin is the Group’s founder, the chairman of the board of directors of the Company, an executive Director, the chairman of the Nomination Committee and a member of the Remuneration Committee of the Company. Since its establishment in 2003, the Company, guided by its brand positioning of “Passion for Perfection”, has been committed to providing complete solutions for Chinese families to enjoy a better life by integrating high-end residential, cultural tourism, culture, commercial facilities and other resources through high-quality and diversified products or services. Sunac China Holdings Limited (01918.HK) is a listed company on the Hong Kong Stock Exchange. Sunac is one of the largest China property bond issuer alongside China Evergrande, Kaisa Group and Country Garden. The company does not expect that it will make payments under the abovementioned notes and other senior notes issued by it when they become due or within the relevant grace periods.” In total, Sunac hd missed total coupon payments of $104 million since April 2022. Sunac Filing to Hong Kong Exchange: ”The group’s contracted sales have continued to decline significantly, while access to new financing has become increasingly difficult with more liquidity issues occurring among certain property developers. If more rating agencies follow Fitch Rating in the coming weeks, China Evergrande could slip into something a little more serious than restricted default and the above quote may become a little truer, with Chinese authorities being hamstrung in their ability to interfere with a meltdown.China Top Property Developer Sunac China Holdings Defaults on $741 Million Bond Interest Payment, Coupon of $29.5 Million Sunac China Holdingsġ3th May 2022 – One of China’s largest property developer Sunac China Holdings had defaulted on its $741 million bond interest payment (Oct 2023 Bond), missing the extended deadline (1 month) to pay $29.5 million of coupon. Right now, the official line from the Central Bank of China is that the China Evergrande crisis is being handled as per the “principles of marketization and rule of law,”. According to Bloomberg, the China Evergrande restructure is being heavily monitored, if not outright controlled by Chinese Authorities in Beijing and the Company’s home province of Guangdong. Pressure is being applied to the Company’s leaders to speed up its restructuring since the change in its Fitch rating. The restructuring includes renegotiating its liabilities and offloading non-construction arms of the Company at bargain prices such as its property management business, as well as stakes in a major Chinese bank and (strangely enough) a streaming services. However, S&P Global has noted that China Evergrande’s default is “inevitable”.Ĭhina Evergrande themselves seem to be ignoring public comment on its failure to meet its obligation, nor has it ceased operations or begun any formal paperwork to address its potential bankruptcy.Ĭhina Evergrande is currently under restructuring while attempting to continue operations as usual. Other rating agencies, such as Moody’s and S&P Global, have not been so quick to upgrade their status of China Evergrande.
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