evergrandecrisis
China Evergrande Group (HKG:3333) is on the brink of formal default as the 30-day grace period has gone unpaid. The real estate giant was expected to make some coupon payments to offshore bondholders, and now it is set to become the biggest defaulter in China. Q3 2021 hedge fund letters, conferences and more Evergrande CrisisAs informed by Reuters, should Evergrande not make interest payments of $82.5 million due last month it will face cross-default on the company’s international bonds worth $19 billion. The developer said Monday it had created a risk-management committee to help mitigate and...
ValueWalk
The Evergrande crisis –China Evergrande Group (HKG:6666) (OTCMKTS:EVGPF)– has brought to light how China has more than 30 million unsold properties that could serve as the home to 80 million people. Mark Williams, chief Asia economist at Capital Economics, estimates that the “ghost town” phenomenon in the country could account for the entire population of Germany. Q3 2021 hedge fund letters, conferences and more Evergrande Crisis And “Ghost Town China”As reported by CNN, a further 100 million properties are estimated to have been bought but not occupied, “which could accommodate roughly 260 mi...
ValueWalk
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