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Asia’s Former Richest Man Faces Escalating Debt Crisis Share to Facebook Share to Linkedin Hui Ka Yan speaks during a news conference on the sidelines of the fourth session of the 12th National People's Congress on March 6, 2016 in Beijing, China. Etienne Oliveau/Getty Images Chinese real estate tycoon Hui Ka Yan is rapidly slipping down the wealth rankings. He net worth dropped another $3.35 billion this week, as shares of his Evergrande tumbled 26%. The company’s Hong Kong-listed shares have plunged 68% over the past year, and analysts say the once resourceful tycoon appears to ...

China Inc. Credit Stress Most Acute in Liaoning, Qinghai Bloomberg 2/4/2021 Molly Dai (Bloomberg) -- China saw a record number of corporate defaults last year and that trend looks set to continue as policy makers try to tighten credit and pull back on stimulus this year. Those stresses aren’t distributed evenly across the country though, with companies in the provinces of Liaoning, Qinghai and Henan facing the most difficulty in raising funds at the moment, according to Bloomberg analysis of all corporate bonds issued in China. The data shows that firms in those three regi...

[SHANGHAI] A unit of GCL-Poly Energy Holdings Ltd. defaulted on a US$500 million bond after ending an exchange offer with existing bondholders. Read more at The Business Times.

Shale Driller Stuns Bondholders as Argentina Runs Out of Dollars Scott Squires and Jonathan Gilbert, Bloomberg News BC-Shale-Driller-Stuns-Bondholders-as-Argentina-Runs-Out-of-Dollars , Scott Squires and Jonathan Gilbert (Bloomberg) -- In the 99 years since it was founded to pump the oil fields of Patagonia, Argentine energy driller YPF SA has been whipsawed by countless booms and busts. If global oil markets weren’t collapsing, it seemed, then Argentina was mired in a debt crisis that was wreaking havoc on the whole nation’s finan...

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero