Investors are buying bonds of Chinese property developer Evergrande, betting its recent default will force it to start restructuring talks
in recent weeks as the property developer toppled into default and prices hit record lows.
Fund managers are betting creditors will recover far more than the debt’s current prices suggest, despite the likelihood of a complex restructuring. The real-estate company has $20 billion of international bonds outstanding, making it one of the world’s largest distressed-debt investments at the same time low interest rates have investors looking for ways to boost returns.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Congress sends Biden $2.5-trillion debt limit hike, avoiding defaultCongress averted a catastrophic debt default after Democratic majorities in both chambers voted to send a $2.5-trillion increase in the nation’s borrowing authority to Biden, over lockstep Republican opposition.
Read more »
China is auditing the assets of Evergrande and its billionaire founderChinese authorities are auditing the assets of Evergrande and its billionaire boss to determine if it needs a bailout: Reuters
Read more »
18 great bargain toys that will arrive before Christmas: snap them up before it's too late!Check out the best bargain toys for boys & girls for Christmas 2021. Grab a cheap deal on top kids' toys like Lego, Barbie, L.O.L. Surprise & more!
Read more »
Senate passes bill to raise debt ceiling, sends measure to House ahead of default deadlineBREAKING: The Senate passed legislation to raise the debt ceiling by $2.5 trillion, just one day before the deadline Treasury Secretary Janet Yellen set for Congress to prevent what would be the nation's first ever default.
Read more »
Senate Democrats set to raise debt limit by $2.5T, funding government past 2022 midtermsTuesday's vote comes just one day before Treasury Secretary Janet Yellen warned that the U.S. would hit its current debt limit and face a potentially catastrophic default.
Read more »