[Pete from Shawnee Mission]

L.P. Appreciate your posts, as always!

Then there is Country Garden China's largest Property Developer. (Did you already discuss this?)

China's Country Garden dodges another default in relief for property sector

"Country Garden also offered on Tuesday to extend repayment of eight onshore bonds worth 10.8 billion yuan ($1.48 billion) by three years, according to people with knowledge of the matter and documents seen by Reuters.

Those bonds, issued by Country Garden and a unit, were set to mature and be puttable - an option given to bondholders to sell the notes back to the borrower at a fixed date - in 2023 and 2024, showed the documents sent to onshore creditors....

[LonePalm]

Thank you.

Yes I did. It was early this week or last week.

Country Garden and EverGrande are just the blunt tip of a very big debt spear set to skewer the PRC economy over the next 4 1/2 months when bonds mature and have to be paid or rolled over. You can bet that interest rates will go up. This will cause the price (value) of non-maturing bonds to drop.

The risk interest penalties will be significant.

I was going to do a "Broken China" ping today but I'm just not up to it. We'll see about tomorrow. Probably on the new thread.

WWG1WGA

Garde la Foi, mes amis! Nous nous sommes les sauveurs de la République! Maintenant et Toujours!
(Keep the Faith, my friends! We are the saviors of the Republic! Now and Forever!)
LonePalm, le Républicain du verre cassé (The Broken Glass Republican)