Highlights

Official Opinion by Tuan Capital

Author: tuancapital   |   Latest post: Wed, 13 Oct 2021, 2:31 PM

 

CHINA IS PREPARING FOR EVERGRANDE DOWNFALL - ARE WE PREPARED ENOUGH?

Author:   |    Publish date:



BENGALURU (Sept 23): Chinese authorities are asking local governments to prepare for the potential downfall of debt-ridden China Evergrande Group, the Wall Street Journal reported on Thursday, citing officials familiar with the discussion.

The company, China's second-biggest property developer, has US$83.5 million in dollar-bond interest payments due on Thursday on a US$2 billion offshore bond and a US$47.5 million dollar-bond interest payment due next week.

Both bonds would default if Evergrande fails to settle the interest within 30 days of the scheduled payment dates.

 

https://www.theedgemarkets.com/article/china-preparing-evegrandes-downfall-—-report

 

EVERGRANDE SAGA

- 300 bil usd debt

- due coming today (yuan dollar and usd )

- next week payment due from offshore ( not sure whens the date)

Trigger panic towards bond market causes 400bil ++ sell off from asian market bond

- second biggest shareholder to sell all stake in the company

- China give aid to company but will make preparation for evergrande downfall

 

 

Therefore are we prepared enough?

 

Without prejudice

Tuan Capital

23 sept

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