Nevada Copper Corp T.NCU

Default - The new Chinese contagion?

[bogfit]

HONG KONG/SHANGHAI, Dec 7 (Reuters) - Some offshore bondholders of China Evergrande Group (3333.HK) did not receive coupon payments by the end of a 30-day grace period, five people with knowledge of the matter said, pushing the cash-strapped property developer closer to formal default.

Adding to a liquidity crisis in China's once bubbling property market, smaller peer Kaisa Group Holdings (1638.HK) was also unlikely to meet its $400 million offshore debt deadline on Tuesday, a source with direct knowledge of the matter said.Failure by Evergrande to make $82.5 million in interest payments due last month would trigger cross-default on its roughly $19 billion of international bonds and put the developer at risk of becoming China's biggest defaulter – a possibility looming over the world's second-largest economy for months.

Non-payment by Kaisa would push the 6.5% bond of Kaisa, China's largest holder of offshore debt among developers after Evergrande, into technical default, triggering cross defaults on its offshore bonds totalling nearly $12 billion.

Evergrande's debt deadline passes as Kaisa adds to China's property crisis | Reuters

b.

• Summary

• Failure to pay may create China's biggest defaulter
• Smaller peer Kaisa also set to miss payment deadline
• Evergrande at heart of Chinese property sector crisis
• Government says Evergrande problems can be contained

HONG KONG/SHANGHAI, Dec 7 (Reuters) - Some offshore bondholders of China Evergrande Group (3333.HK) did not receive coupon payments by the end of a 30-day grace period, five people with knowledge of the matter said, pushing the cash-strapped property developer closer to formal default.

Adding to a liquidity crisis in China's once bubbling property market, smaller peer Kaisa Group Holdings (1638.HK) was also unlikely to meet its $400 million offshore debt deadline on Tuesday, a source with direct knowledge of the matter said.

[bogfit]

Evergrande’s liquidity crisis has over recent months spread across China’s economically important real estate developer sector.   Another big developer, Kaisa, had a $400m bond maturing on Tuesday and investors last week turned down an offer to extend its maturity. “The key question on investors’ minds is whether the government is willing to change its policy stance on the property sector

[SNgu8000]

Supporting Beijing authorities are firmly in pro-growth mode with the Politburo stating that stability is the top priority ahead of next year’s Communist Party congress. Premier Li Keqiang also said China has room for a variety of monetary policy tools after yesterday’s reserve ratio cut. Financial and property stocks were the biggest winners amid the

[SNgu8000]

https://www.cnn.com/2021/12/07/economy/china-policy-economy-real-estate-intl-hnk/index.html

[RoyKerr]

cnn is terrible 'news' source for investing.

[bogfit]

"cnn is terrible 'news' source for investing." Not if you use it like any other news source - for information, not conclusion.   Financial writers, who are trying to earn a living that way, are required to produce and are often sloppy, pushing an agenda, or just plain poorly informed.  The only real value in their analyses is knowing what the unwashed are being

[SNgu8000]

" cnn is terrible news source for investing " , That's  YOUR ASSUMPTION Mr. All I care is if it's true if China had pumped $180 Billions into market to stablize real estate sector then good for COPPER ( remember China consume roughly more or less 50% copper market ) then good for NCU ( solid white candle up 7cents today after a month sloped down ) . Now you want to try

[RoyKerr]

NCU does not follow CU price yet.  caixinglobal best for english-only readers wanting china business news. https://www.caixinglobal.com/2021-12-06/pboc-to-free-up-188-billion-for-lending-to-businesses-with-new-reserve-requirement-cut-101814354.html trump is a loser. #desantis2024 cnn lies and i cannot tell when they are doing it. this makes investing harder than it needs to be. hope all