The builders have a total of $13.4 billion of dollar bonds and the equivalent of $12.6 billion in yuan notes coming due in the first quarter, according to data compiled by Bloomberg. The rash of deals comes as developers face a wall of maturing dollar and local bonds at the beginning of 2022. “That’s a good sign as it implies they care about their reputation. “Many developers are doing everything they can to avert default,” said Abhishek Rawat, portfolio manager at Hong Kong Asset Management Ltd., who turned more positive on the sector last month. Chinese policy makers have made it clear they expect developers to meet their obligations, even as officials maintain curbs on the sector. ![]() Property firms are stepping up efforts to raise cash as they seek to repay debt at a time when strict rules on leverage, elevated borrowing costs and a slowdown in homes sales are curbing traditional sources of funds.
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