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Exclusive-German builders to confront Scholz with demands to stem property rout

German Chancellor Olaf Scholz is facing fresh demands to stem a property crisis in Europe's largest economy after a recent summit aimed at rescuing the sector disbanded in acrimony. The nation's ailing building industry will present the chancellor with a new set of proposed measures this month to cushion the worst property crisis in a generation, two people involved in the preparations said. Wolfgang Schubert-Raab, president of the ZDB industry association that represents 35,000 bui...
United States Wolfgang Schubert Raab John Odonnell Kirsten Donovan Olaf Scholz Tom Sims
Source: yahoo.com

Analysis-China property creditors face worsening restructuring terms as sector recovery hopes sour

As more Chinese property developers move towards restructuring billions of dollars of debt, their offshore creditors are expected to face another setback - the prospects of revamp terms being tightened due to a worsening outlook for the county's real estate sector. Developers, financial advisers and bondholders said that could make debt restructuring terms much worse than expected earlier. Sunac China last week became the first property developer to complete the debt revamp process after ...
Hong Kong New York United States Sumeet Chatterjee Edward Al Hussainy Davide Barbuscia
Source: yahoo.com

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China's Country Garden says might not meet all debt obligations

Debt-saddled Chinese property giant Country Garden said Tuesday that it did not expect to meet all of its offshore payment obligations in time as it edges towards a potential default.But in a filing with the Hong Kong Stock Exchange, the firm said it "expects that it will not be able to meet all of its offshore payment obligations when due or within the relevant grace periods".
Hong Kong Hong Kong Stock Exchange Debt Saddled Chinese Country Garden Payment Obligations Debt Obligations
Source: yahoo.com

Teetering China Property Giants Undercut Xi's Push to End Crisis

(Bloomberg) -- Fresh drama at property developers including China Evergrande Group is jeopardizing President Xi Jinping’s latest efforts to end the housing crisis. Most Read from BloombergIndians Have Five Days to Deposit $3 Billion in Soon-to-Be-Withdrawn BanknotesCostco Offers Members $29 Online Health Care VisitsBonds Sink, S&P 500 Snaps Four-Day Losing Streak: Markets WrapIndia-Canada Clash Should Be a Wake-Up CallDimon Warns World May Not Be Ready for Fed at 7%, TOI SaysJust as ...
Xia Haijun Li Daokui Zhi Wei Feng Chen Wenjing Bloomberg Businessweek Asia Pte
Source: yahoo.com

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