Bond Default News Today

"I have one message for those observing or involved in the standoff over raising the US federal debt limit: Be afraid, be very afraid."

The debt-laden Chinese developer said creditors representing 75 per cent of its US$9.1 billion offshore debt have agreed to restructuring terms, an outcome ‘everybody should be happy with’, according to one analyst.

At least six Wall Street banks are cautiously trading in Russian bonds after the Treasury temporarily rolled back a block that left $2.5 billion of CDS insurance payouts stranded.

Kaisa Group reported some progress in its debt restructuring efforts, following agreements with undisclosed onshore creditors. Offshore creditors may need to wait longer for some good news.

Russian Railways argued it had fulfilled its obligations on the bond worth $268 million, as wrangling over the country's debts continued.

Russia’s finance minister said payments on its foreign debt were sent to Citigroup, but investors haven’t received any money

Central China Real Estate and Yango Group made last-ditch arrangements to avoid bond defaults after regulators told embattled home builders they must prepare to repay their debts.

China has one of the world's highest levels of corporate debt, making up 31% of the global total.

Growing concerns about hidden debt and widening default among Chinese developers are pressuring the market with the Hang Seng Index trading near a one-year low.

Stocks in mainland China retreated as Evergrande’s debt crisis stoked concerns about contagion risks in a slowing economy. The central bank injected US$18.6 billion into the banking system to calm nerves.