China Vanke’s Endgame: The Bad and the Very Ugly

 


In the event of a liquidation, Vanke’s dollar bondholders are staring at a recovery rate in the teens, as the issuer is not the onshore parent but a wholly-owned subsidiary with limited assets.

Offshore creditors holding $5.4 billion of unsecured bank loans and bonds will have to fight over $950 million worth of assets, giving them an average recovery rate of only 18%.


Bloomberg December 4, 2025

https://www.bloomberg.com/opinion/articles/2025-12-04/china-vanke-s-endgame-the-bad-and-the-very-ugly

 

Den kinesiska fastighetsgiganten Evergrande Group har skulder på 305 miljarder dollar

https://englundmacro.blogspot.com/2021/09/den-kinesiska-fastighetsgiganten.html


Evergrande Heads to Liquidation

januari 2024

https://englundmacro.blogspot.com/2024/01/evergrande-heads-to-liquidation.html

 


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