Property News · October 22, 2021

Panic-stricken investors drive down Chinese developer Agile’s bonds amid rumours about its ability to repay loans


Chinese developer Agile Group Holdings on Friday tried to reassure investors that it has enough money on hand to service debt, including off-balance sheet loans, after rumours drove down its bond prices.The prices of 11 US dollar dominated bonds of the Guangzhou-based Chinese developer plunged as panic-stricken investors sold the notes amid speculation that the company could struggle to make coupon payments due soon.“The company only has one off-balance sheet loan due in November worth US$250…

Source : South China Morning Post
Read more…Panic-stricken investors drive down Chinese developer Agile’s bonds amid rumours about its ability to repay loans