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Lessons from the G20’s failed attempts at restructuring sovereign debt must be learned. Why not explore debt-for-development swaps, where loans are in effect turned into investments, and market-based alternatives such as packaging the debt into securities?
HONG KONG (Reuters)PROPERTY/DEBT-COUNTRYGARDEN - A major group of Country Garden offshore creditors has appointed Kirkland & Ellis LLP as the legal adviser, a source familiar with the matter said, in a move towards discussing debt repayment options with the defaulted Chinese developer. Country Garden has been working on a plan to restructure its $11 billion offshore bonds after it missed a coupon repayment in October, becoming one of the biggest Chinese developers that have defaulted on its offshore debt. The developer's offshore bondholders group, which has hired Kirkland, had ap...
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(Bloomberg) -- Taeyoung Engineering & Construction, the distressed builder that’s raised the threat of more project finance crises in South Korea, won support from creditors to start debt restructuring talks. Most Read from BloombergGoogle Lays Off Hundreds in Hardware, Assistant, EngineeringUK’s Sunak Authorizes Joint Military Strikes With US Against HouthisHertz to Sell 20,000 EVs in Shift Back to Gas-Powered CarsUS, UK Launch Airstrikes on Houthi Rebels After Red Sea AttacksSEC Authorizes Bit
Creditors of debt-ridden Taeyoung Engineering & Construction Co. voted Thursday to allow the ailing builder to move forward with a debt restructuring program.