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China Evergrande Group is planning to “actively engage” with offshore creditors to formulate a viable restructuring plan of the developer’s debt, according to a statement from the company.
China will cut the amount of cash banks have to keep in reserve to aid smaller firms, which have been struggling as the economy slows, the Premier Li Keqiang said Friday, although he didn’t say when the reduction would happen.
It was another month of record-breaking housing activity for the Greater Toronto Area in November.
Kaisa Group Holdings Ltd. failed to win bondholder approval for a $400 million debt swap designed to avert default, in a development that could spur contagion risk just as global investors return to offshore property bonds.
Kaisa Group Holdings Ltd. failed to win approval from bondholders for a debt swap designed to avert default.
Aug 17, 2021
The Canadian Press
Canada Mortgage and Housing Corp. says the annual pace of housing starts in July fell compared with June.
The national housing agency says the annual pace of starts fell to 272,176 units in July compared with 281,200 in June.
The drop came as the pace of urban starts edged down 0.65 per cent in July to 249,001.
The annual rate of urban starts for apartments, condos and other types of multiple-unit housing projects fell 3.1 per cent to 184,759, while the pace of single-detached urban starts rose 7.1 per cent to 64,242.
CMHC estimated rural starts at a seasonally adjusted annual rate of 23,175.
The six-month moving average of the monthly seasonally adjusted annual rate of housing starts was 286,620 in July, down from 293,085 in June.
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