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Evergrande Drama ...

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  1. #121

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    who knows.. but from the look of it .. project piecewise transferred at cheap price to developers all over china.. many of them SOE that are told by government to make sure the homebuyers get their home as promised.. if there are remaining assets after all these are completed, maybe some investors will get back money.. and that will also be ranked with the onshore investors in the wealth management products getting their cut first...

    Coolboy likes this.

  2. #122

    So Evergrande is prioritising repayment of onshore liabilities. That's not a surprise. What is surprising is that claim that default on USD bonds will no trigger a cross default on Evergrande's onshore bonds. If that's the market practise, PRC borrowers can expect to be paying a stiff premium for offshore debt going forward. From a policy perspective, it's remarkably short-sighted.


    http://www.aastocks.com/en/stocks/ne...36056/top-news

    shri and Coolboy like this.

  3. #123

    Delete: already posted.


  4. #124

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    Quote Originally Posted by traineeinvestor:
    So Evergrande is prioritising repayment of onshore liabilities. That's not a surprise. What is surprising is that claim that default on USD bonds will no trigger a cross default on Evergrande's onshore bonds. If that's the market practise, PRC borrowers can expect to be paying a stiff premium for offshore debt going forward. From a policy perspective, it's remarkably short-sighted.


    EVERGRANDE Repays Onshore Bond Coupon due Today: Wire AASTOCKS Financial News - Top News
    The markets are remarkably short-sighted though, anybody remember that Century Bond that Argentina sold in 2015?
    traineeinvestor and Coolboy like this.

  5. #125
    Quote Originally Posted by GentleGeorge:
    The markets are remarkably short-sighted though, anybody remember that Century Bond that Argentina sold in 2015?
    Anyone who buys Argentinian debt is a poor student of history - the country has been a serial defaulter.

    I wonder what those are trading at now?
    AsianXpat0 and Coolboy like this.

  6. #126

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    @traineeinvestor - trading now?


    Argentina Century Bonds
    In June 2017, Argentina set a benchmark in the markets with its issuance of 100-year bonds. Investors’ orders stood at $9.75 billion for a final issue size of $2.75 billion on the century bonds that paid a coupon of 7.125% against a yield of 7.917%. Hardly 2 years later, Argentina looks likely to renege on its debt obligations for the third time in 2 decades, with the 100-year bonds currently having an implied probability of default over the next 5 years of 84%. This comes after President Mauricio Macri was routed in a primary election, sparking concerns that the elected Alberto Fernandez and his running mate, former President Cristina Fernandez de Kitchener, would undo Macri’s market-friendly policies.
    traineeinvestor likes this.

  7. #127

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    Probably the sole thing China “hawks”/sceptics agree on with “China”, is that anybody putting their money in shouldn’t expect to get it back.


  8. #128

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    Quote Originally Posted by AsianXpat0:
    Probably the sole thing China “hawks”/sceptics agree on with “China”, is that anybody putting their money in shouldn’t expect to get it back.
    I think that would be news to Apple

  9. #129

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    I think that would be news to Apple
    and where does Apple figure in this context, or where Chinese companies are listed on foreign exchanges?
    shri, TheBrit and Gatts like this.

  10. #130

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    Quote Originally Posted by AsianXpat0:
    and where does Apple figure in this context, or where Chinese companies are listed on foreign exchanges?
    When you become a mega trend spotter, details don't matter.
    Hadoren likes this.

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