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23.12.25 - 06:00
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CHINA VANKE Faces Default Risk on US$1.3B Debt (AAStocks)
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CHINA VANKE (02202.HK) is facing an increased risk of default on its US$1.3 billion bonds, according to Bloomberg. Although earlier, the grace period for CHINA VANKE's fourth tranche of 2022 medium-term notes with a principal amount of RMB2 billion was extended from 5 working days to 30 days, creditors refused to extend the ......
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23.12.25 - 02:30
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China Vanke wins bondholders′ reprieve, averts default for now (SCMP)
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China Vanke, once the mainland's biggest developer before it succumbed to an unprecedented property crisis, won last-minute support from creditors to extend a bond grace period in a reprieve that helps it avoid default, at least for now.
Holders of Vanke's 2 billion yuan (US$284 million) note voted in favour of a proposal to extend the grace period to January 28, according to a filing to Chinamoney.com on Monday. The company did not pay the security by its December 15 maturity, which left it in......
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22.12.25 - 03:30
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COUNTRY GARDEN Issues New Shrs at 12%+ Discount for CoComs Work Fee Payment (AAStocks)
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COUNTRY GARDEN (02007.HK) announced plans to issue nearly 136 million new shares to GLAS HK, the trustee of mandatory convertible bonds, under general authorization at an issue price of HKD0.4 per share, a discount of around 12.09% compared to the closing price last Friday (19th).Under the work fee arrangements with the co-ordin......
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22.12.25 - 03:15
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POWERLONG Debt Restructuring Agreement Supported by ~85.5% of Creditors (AAStocks)
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The Extended Consent Fee Deadline for the debt restructuring plan expired at 5 pm last Friday (19th), as announced by POWERLONG (01238.HK). Holders of over 85.48% of the Scheme Debt have submitted letters to accede to the restructuring support agreement (RSA). The Group announced that the convening hearing, at which an order wil......
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20.12.25 - 10:24
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Vanke Hong Kong sells just 7 units in muted Le Mont weekend launch (SCMP)
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Vanke Hong Kong, a unit of distressed mainland developer China Vanke, sold only seven flats from the latest batch of its Le Mont project in Tai Po on Saturday, a muted result that brokers said was expected given the development has been on the market for months.
The developer released 165 flats in the latest batch, with sizes ranging from 270 to 662 sq ft.
The offering included 28 one-bedroom, 28 two-bedroom, eight three-bedroom units and eight special units, as part of a six-tower residential......
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19.12.25 - 12:56
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China Problems for US Sportswear Giant Nike As Shares Tumble | The Pulse 12/19 (Bloomberg)
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Nike shares sank after the company warned that sales will decline this quarter amid persistent weakness in China and at its Converse brand. The world's largest sportswear company expects revenue to be down in the low-single digits in the three months that started Dec. 1, a surprising turn after two straight periods of growth.
Today's guests: Michael Metcalfe, State Street, Head of Macro Strategy; Chris Brett, CBRE, Capital Markets Europe Head; Vania Stavrakeva, London Business School Professor; Anton Osika, Lovable CEO & Co-Founder; Amy Gower, Morgan Stanley, Metals and Mining Strategist. (Source: Bloomberg)...
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19.12.25 - 12:18
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China Vanke says top managers have no plans to sell shares as it fights for survival (SCMP)
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China Vanke's senior executives have no plans to reduce their personal shareholdings, according to the distressed mainland developer, which is seeking to extend the repayment of its onshore debt to avoid a default.
The Shenzhen-listed developer on Thursday was responding to queries from investors on the exchange's interactive platform, saying it had not received any notification from the executives regarding stake sale plans. Under the exchange's rules, senior management were required to......
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19.12.25 - 08:12
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Rosewood presses ahead with global expansion after sources say hotel brand is not for sale (SCMP)
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Rosewood Hotel Group said on Friday it was pushing ahead with its global expansion, announcing new openings including its first ski resort, just days after sources said Chow Tai Fook Enterprises (CTFE), the private investment holding company of the Cheng family and the parent firm of debt-ridden New World Development (NWD), had no plans to sell the prized asset.
The privately owned hotel operator said Rosewood Courchevel Le Jardin Alpin, an alpine resort in the French Alps, opened on schedule,......
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