|Bid||N/A x N/A|
|Ask||N/A x N/A|
|Day's range||0.3381 - 0.3640|
|52-week range||0.0100 - 4.0000|
|Beta (5Y monthly)||1.48|
|PE ratio (TTM)||1.95|
|Forward dividend & yield||0.02 (6.89%)|
|Ex-dividend date||16 Jun 2021|
|1y target est||N/A|
With China Evergrande Group's default deadline drawing closer, offshore bond investors in the property developer are pondering their legal options to safeguard their investments. DO EVERGRANDE'S OFFSHORE BONDS CARRY ANY GUARANTEE FROM ISSUER? To work around this, offshore corporate bonds, in many cases, are issued by Special Purpose Vehicles (SPVs) and feature a so-called keepwell structure.
The rumbling crisis at China Evergrande Group and other major homebuilders drove debt market risk premiums on weaker Chinese firms to a record high on Wednesday and triggered a fresh round of credit rating downgrades. Evergrande, which has more than $300 billion in liabilities and 1,300 real estate projects in over 280 cities, missed a third round of interest payments on its international bonds this week, and other firms have also warned they could default. In the clearest sign yet that global investors' worries are growing, the spread - or risk premium - on investment grade Chinese firms, which tend to have the most solid finances, jumped to its widest in more than two months.
China has the ability to address the issues linked to China Evergrande Group's indebtedness, although there is a risk of the property developer's pain escalating to cause broader financial stress, the IMF said in a report and comments released Tuesday. Evergrande, with more than $300 billion in liabilities, has concerned investors globally after it missed its third round of bond payments in three weeks, intensifying market fears over contagion involving other property developers as a wall of debt payment obligations come due in the near-term. Debt-saddled Chinese property firms took heavy fire in bond markets on Tuesday.