Evergrande drags down high yield property bonds

By Morgan Davis
28 Sep 2020

China Evergrande Group’s dollar bonds rebounded on Monday morning after tumbling late last week. But the poor performance of the company’s bonds appears to have spread to outstanding notes from other Chinese property companies.

Evergrande’s bonds traded up by three to five points when the market opened on Monday morning, settling up around two to three points before lunch. But the upward movement followed a significant drop in the company’s dollar bonds late last week.

On Thursday, Evergrande’s 12% 2024 ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial