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Top related persons:
Xie Yu - 2 Steven Bian - 2 Kevin Huang - 2 Sumeet Chatterjee - 2 Sunac - 1 Gary Ng - 1 ANZ Senior China Economist Betty Wang - 1 It's - 1
Top related locs:
HONG KONG Beijing Hong Kong Shanghai Sunac China Guangdong Lincoln
Top related orgs:
HK - 2 Thomson - 2 Sunac China Holdings - 1 Country Garden - 1 Natixis Corporate - 1 Investment Bank - 1 China Evergrande - 1 ANZ Senior China Economist - 1

Search resuls for: "Steven Bian"


5 mentions found


☆ Sunac, Country Garden debt deals bring respite for China's property sector
  + stars: | 2023-09-19 | by ( ) www.reuters.com   time to read: +4 min
HONG KONG, Sept 19 (Reuters) - Chinese developers Sunac (1918.HK) and Country Garden (2007.HK) brought some relief to the crisis-hit property sector by forging debt deals with creditors, but the outlook remained clouded by uncertainty about a recovery in home sales. Shares in Sunac China Holdings surged as much as 14% on Tuesday after creditors approved its $9 billion offshore debt restructuring plan, the first green light of such a debt overhaul by a major Chinese developer. The developments come as Beijing steps up efforts to revive the property sector, which accounts for roughly a quarter of the world's second-largest economy, with a raft of support measures unveiled over the last few weeks. While Sunac is among a string of Chinese developers that have defaulted on their offshore debt obligations since an unprecedented liquidity crisis hit the property sector in 2021, Country Garden has not missed any offshore payments yet. PROPERTY SECTOR OUTLOOKMajor developers in the process of restructuring their debt include China Evergrande Group (3333.HK), whose liquidity crunch was a turning point in the country's real estate crisis.
Persons: Sunac, Gary Ng, ANZ Senior China Economist Betty Wang, It's, Donny Kwok, Xie Yu, Steven Bian, Kevin Huang, Anne Marie Roantree, Sumeet Chatterjee, Lincoln Organizations: HK, Sunac China Holdings, Country Garden, Natixis Corporate, Investment Bank, China Evergrande, ANZ Senior China Economist, Thomson Locations: HONG KONG, Beijing, Hong Kong, Sunac, China, Shanghai
☆ Country Garden wins approval to extend another onshore bond
  + stars: | 2023-09-19 | by ( ) www.reuters.com   time to read: +1 min
HONG KONG, Sept 19 (Reuters) - Embattled Chinese developer Country Garden (2007.HK) has won approval from creditors to extend repayment on another onshore bond, the last in the batch of eight bonds it has been seeking extensions for, two sources familiar with the matter said. The 492 million yuan ($67 million) onshore bond was issued by a subsidiary of Country Garden, and the company had delayed voting on this bond three times before creditors on Monday voted in favor to extend the maturity, the sources said. Under the terms of the agreement, the issuer, Guangdong Giant Leap Construction Co would provide no less than 200 million yuan as a pledged guarantee for the bond, the two sources added. Country Garden, whose financial woes have hit the Chinese property sector outlook, earlier proposed to extend maturities of eight onshore bonds worth 10.8 billion yuan by three years. ($1 = 7.2946 Chinese yuan renminbi)Reporting by Steven Bian in Shanghai, Kevin Huang in Beijing, and Xie Yu in Hong Kong; Editing by Sumeet Chatterjee and Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.
Persons: Steven Bian, Kevin Huang, Xie Yu, Sumeet Chatterjee Organizations: HK, Country, Thomson Locations: HONG KONG, Guangdong, Shanghai, Beijing, Hong Kong, Lincoln
☆ China may hold lending benchmarks steady as recovery remains on track -analysts
  + stars: | 2023-04-19 | by ( ) www.reuters.com   time to read: +2 min
SHANGHAI/SINGAPORE, April 19 (Reuters) - China is widely expected to stand pat on lending benchmarks at the monthly fixing on Thursday, a Reuters survey showed, as economic recovery has been well on track - as seen from better-than-expected first-quarter data. China's economy grew at a faster-than-expected pace in the first quarter, reducing the urgency for authorities to ease monetary policy to aid recovery, traders and economists said. The loan prime rate (LPR), which banks normally charge their best clients, is calculated each month after 18 designated commercial banks submit proposed rates to the People's Bank of China (PBOC). In a poll of 30 market watchers, 27 predicted no change to either the one-year LPR or five-year tenor . The interest rate on medium-term lending facility (MLF) loans serves as a guide to the LPR.
☆ China central bank to maintain or increase policy-loan liquidity - Reuters poll
  + stars: | 2023-01-13 | by ( ) www.reuters.com   time to read: +3 min
The PBOC manages liquidity by extending loans to banks under its one-year medium-term lending facility (MLF). Twelve analysts expected the central bank to replace that debt exactly with 700 billion yuan of new lending, and 10 expected it to go further and lend a greater amount. A great majority - 21 traders and analysts - expected the MLF interest rate to stay unchanged at 2.75% this month, while the remaining four respondents expected a small rate cut. Markets still expect some monetary policy easing measures to support economic recovery, including cuts to policy rates and the amount of cash that banks must set aside as reserves. "The PBOC will likely cut interest rates soon to aid the expected economic recovery this year."
☆ Developer Sunac China seeks to extend payment for 4 bln yuan bond for the 3rd time-sources
  + stars: | 2022-09-27 | by ( ) www.reuters.com   time to read: +1 min
Register now for FREE unlimited access to Reuters.com RegisterAn advertisement of property developer Sunac China Holdings is seen at a residential complex in Shanghai, China March 25, 2018. REUTERS/Stringer ASHANGHAI, Sept 27 (Reuters) - Struggling Chinese property developer Sunac China (1918.HK) is seeking to extend the repayment for a 4 billion yuan ($558.35 million) bond for the third time by pushing out the deadline by another 6 months, two sources with knowledge said on Tuesday. Register now for FREE unlimited access to Reuters.com RegisterThe Beijing-based developer is struggling to repay its creditors and it is undergoing an offshore debt restructuring after defaulting some dollar bonds this year. The payment extension for the onshore bond in question will require bondholders approval, the sources said. In April, Sunac extended the principal payment by 18 months, and then in June reduced amortization payments due in June and September.
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