German Real Estate Firm Adler Reaches Agreement With Lenders
Troubled German real estate firm Adler Group SA has reached a non-binding agreement with bondholders, according to a company statement released on Thursday morning.
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Troubled German real estate firm Adler Group SA has reached a non-binding agreement with bondholders, according to a company statement released on Thursday morning.
The deep freeze that’s gripped Europe’s real estate markets since borrowing costs jumped worsened at the start of the year as deals plunged to their lowest levels since 2011.
Investors are looking for the next policy domino to fall in Asia amid an escalating campaign against a resurgent dollar, after Indonesia used a surprise interest rate hike to defend the rupiah.
Vietnamese billionaire Pham Nhat Vuong pledged to invest at least another $1 billion of his personal wealth into VinFast Auto Ltd., providing the capital needed for expansion of the struggling electric vehicle maker.
Macrotech Developers Ltd., a real estate firm that operates under the brand name Lodha, expects pre-sales to grow about 20% in the year to March after reporting its highest ever quarterly revenue.
Oct 19, 2021
Bloomberg News
,(Bloomberg) -- China Evergrande Group’s main onshore unit has remit funds to pay interest due Tuesday on a yuan bond, Reuters reported, citing four people with knowledge of the matter.
The coupon on Hengda Real Estate Group’s 5.8% 2025 local bond is 121.8 million yuan ($19 million), according to data compiled by Bloomberg.
Evergrande didn’t immediately respond to a request seeking comment.
The reported move comes after Evergrande missed initial interest payment deadlines on several dollar bonds since last month. The company has a 30-day grace period before a coupon payment miss for any of those dollar notes would constitute a default.
While Chinese central bank officials have recently described the developer’s risks as controllable, investors continue to be on the lookout for signs that its crisis could spread and affect other developers and banks. A recent surprise default by Fantasia Holdings Group Co. had spurred a selloff in the offshore debt market, sending yields on Chinese dollar junk bonds to the highest in about a decade.
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