Affected by Country Garden's interest in paying USD bonds on the original date of the date, China's real estate bond market was once again panicked and dragged down the high -yield US dollar debt index to a new low in the year.
According to Bloomberg, a Bloomberg's index shows that Chinese -funded high -yield US dollar debt fell to 66.8 cents per USD on Wednesday (August 9), the lowest since November last year, which is the lowest since November last year.The high point in February fell nearly 16%.
The holders of the two dollar debt of Country Garden have previously claimed that they could not receive the ticket as of Wednesday afternoon.As of 12:57 noon on Thursday, Country Garden, which expired in January 2024, fell 1 cents at each US dollar at 11.31 cents.According to Bloomberg's summary data, the company has at least about 20 billion yuan (about S $ 3.7 billion) of bond principal and interest and return pressure from the end of August to the end of the year.
Bloomberg Industry Research (BI) Analyst Kristy HUNG pointed out in the report that considering that the number of projects under construction in Country Garden is four times that of Evergrande, if the company breaks the contract, "the impact on the Chinese real estate market may exceed moreEvergrande. "
Except Country Garden, the state -owned real estate enterprise SAO Group has not gone out of the predicament.The company recently applied for the exhibition of domestic and overseas bonds, but the domestic debt exhibition plan failed to obtain the consent of the holder. It only obtained a 30 -day wide limit period and won some time to avoid bond default.In terms of overseas bonds, 6.00%of the notes due in 2024 did not reach most of the tickets required to pass the special resolution by electronic consent.
