Credit Roundtable News Today

Global money managers weren't counting on a 99% haircut.

China Evergrande Groups defaulted offshore bonds are trading at just 1 cent on the dollar following a Hong Kong court order for the companys liquidation, highlighting the dangers of trying to bargain with the Communist Party.

(Bloomberg) -- From afar, China Evergrande Group had all the makings of a killer distressed-debt trade: $19 billion in defaulted offshore bonds; $242 billion in assets; and a government that appeared determined to prop up the country’s faltering property market. So US and European hedge funds piled into the debt, envisioning big payouts to juice their returns.Most Read from BloombergBiden’s Attempt to Address Memory Issue Backfires With New GaffeA 99% Bond Wipeout Hands Hedge Funds...

Sponsors and critics alike have said the measure has an unprecedented power to significantly reshape the international financial landscape.

The Credit Roundtable, a lobby group of some of the biggest fixed income asset managers from the United States and Canada, has decided not to take legal…

By Divya Rajagopal TORONTO (Reuters) -The Credit Roundtable, a lobby group of some of the biggest fixed income asset managers from the United States and ...

By Divya Rajagopal TORONTO (Reuters) - The Credit Roundtable, a lobby group of some of the biggest fixed income asset managers from the United States ...