China South City Holdings Limited (CS4.F)
- South China Morning Post
Developer China South City stock sinks 37% to record low in Hong Kong after warning of multiple bond defaults
Chinese developer China South City Holdings plunged 37 per cent to an all-time low after it warned last week that it would default on multiple bonds maturing this year, having earlier failed to win reprieve from creditors to postpone repayment. The Shenzhen-based company tumbled to HK$0.134 at 2.20pm local time in Hong Kong from HK$0.212 on Friday as trading resumed after the Lunar New Year break, set to close at the lowest since its listing in September 2009. Today's slump extended the stock's
- South China Morning Post
State-backed developer China South City averts default on July 2024 bond with consent from creditors, fails to restructure four other bonds
China South City Holdings averted a default on an offshore debt after winning consent from creditors on deadline day, a narrow escape for the state-backed developer struggling with a liquidity squeeze after months of sliding home sales. It failed to restructure four other bonds. Bondholders agreed to extend the maturity of its US$235 million July 2024 note by 37 months to August 2027, as well as lower the annual coupon by half to 4.5 per cent, according to a statement issued by its information a
