Latest news with #LoganGroup
Time of India
11-07-2025
- Business
- Time of India
Logan Group wins bondholder approval for Shenzhen unit's debt restructuring
BENGALURU: Shenzhen-based developer Logan Group said on Thursday it has secured full bondholder approval for a sweeping debt restructuring, covering 21 onshore corporate bonds and asset-backed securities issued by its unit, Shenzhen Logan Holdings . The restructuring will adjust repayment for both principal and interest on the bonds, with four options offered to the bondholders - full conversion into designated assets, asset-for-debt swaps, cash repurchase, or equity economic rights. Logan said it will now arrange for bondholders to select their preferred restructuring options and receive allocations based on their holdings, following provisions outlined in the bondholder meeting resolutions. The approval marks a significant step for the embattled developer as China 's property sector continues to grapple with a prolonged liquidity crisis that has forced numerous firms to restructure billions in debt. The Hong Kong-listed real estate firm will now move to implement the chosen restructuring options, with bondholders expected to make their selections, it said in a statement.
Time of India
10-07-2025
- Business
- Time of India
Logan Group wins bondholder approval for Shenzen unit's debt restructuring
BENGALURU: Shenzhen-based developer Logan Group said on Thursday it has secured full bondholder approval for a sweeping debt restructuring, covering 21 onshore corporate bonds and asset-backed securities issued by its unit, Shenzhen Logan Holdings . The restructuring will adjust repayment for both principal and interest on the bonds, with four options offered to the bondholders - full conversion into designated assets, asset-for-debt swaps, cash repurchase, or equity economic rights. Logan said it will now arrange for bondholders to select their preferred restructuring options and receive allocations based on their holdings, following provisions outlined in the bondholder meeting resolutions. The approval marks a significant step for the embattled developer as China 's property sector continues to grapple with a prolonged liquidity crisis that has forced numerous firms to restructure billions in debt. The Hong Kong-listed real estate firm will now move to implement the chosen restructuring options, with bondholders expected to make their selections, it said in a statement.
Yahoo
10-07-2025
- Business
- Yahoo
Chinese Property Stocks Jump on Unverified Reports of State Aid
(Bloomberg) -- A gauge of Chinese property shares jumped the most in nearly nine months, fueled by speculation a high-level meeting will be held next week to help revive the struggling sector. Singer Akon's Failed Futuristic City in Senegal Ends Up a $1 Billion Resort Are Tourists Ruining Europe? How Locals Are Pushing Back Can Americans Just Stop Building New Highways? Denver City Hall Takes a Page From NASA Philadelphia Trash Piles Up as Garbage Workers' Strike Drags On A Bloomberg Intelligence index of the nation's real estate stocks surged as much as 11%, with Logan Group Co. rising as much as 85% in Hong Kong, and Sino-Ocean Group Holding Ltd. climbing by 37%. The rally followed unverified social media reports of a possible high-level meeting that would be reminiscent of the Central Urban Work Conference held in 2015, which sought to propel urban planning and infrastructure. That event was the first of its kind in decades and was attended by President Xi Jinping, former Premier Li Keqiang and all the members of the Politburo's standing committee. The speculation relates to the possible resumption in the development of shanty-town areas, which triggered the purchasing of property stocks, said Shujin Chen, head of China financial and property research at Jefferies Hong Kong Ltd. Still, such a resumption is unlikely to happen as the government may not have enough funds to support that endeavor, Chen said. China's property sector is mired in a protracted slump. Over the past four years, a number of major developers have defaulted on their debt as government crackdowns and faltering home-buyer sentiment have weighed on their businesses. Officials have taken a number of steps to try and revive the sector, but these have so far had only modest success. Home sales extended their slump in June, spurring calls for fresh stimulus. 'The central government really needs to do something, especially after the disastrous June sales,' said Hao Hong, chief investment officer at Lotus Asset Management Ltd. 2015 Playbook The market is betting China will dust off its 2015 playbook to support so called shanty-town redevelopment. Potential measures may include the government speeding up the construction of new homes, offering monetary payouts to families and pumping more money into smaller cities to bolster demand. While the benchmark CSI 300 Index didn't immediately respond to the 2015 meeting, the gauge did rise in the two years following its trough in 2016, driven by a number of reforms. The broader market also jumped Thursday, with the Shanghai Composite Index closing at the highest level since January 2022. The nation's 10-year government bond rose one basis point to 1.66%. Iron ore futures jumped as much as 3.6% in Singapore. Recent efforts to stabilize the stock and property markets haven't panned out, which is why there are wide-ranging 'bets on some new measures for stimulus,' said Zhu Zhenkun, a fund manager at Hainan Shire Asset Management Co. Efforts to redevelop shanty-towns would 'rejuvenate the market and bring in liquidity,' he said. --With assistance from Charlotte Yang, Catherine Ngai and Abhishek Vishnoi. Will Trade War Make South India the Next Manufacturing Hub? 'Our Goal Is to Get Their Money': Inside a Firm Charged With Scamming Writers for Millions Pistachios Are Everywhere Right Now, Not Just in Dubai Chocolate 'Telecom Is the New Tequila': Behind the Celebrity Wireless Boom SNAP Cuts in Big Tax Bill Will Hit a Lot of Trump Voters Too ©2025 Bloomberg L.P. Sign in to access your portfolio
Business Times
10-07-2025
- Business
- Business Times
Chinese property shares surge on unverified reports of meeting to revive sector
[BEIJING] A gauge of Chinese property shares jumped the most in nearly nine months, fuelled by speculation a high-level meeting will be held next week to help revive the struggling sector. A Bloomberg Intelligence index of the nation's real estate stocks surged as much as 11 per cent, with Logan Group rising as much as 85 per cent in Hong Kong, and Sino-Ocean Group Holding climbing by 37 per cent. The rally followed unverified social media reports of a possible high-level meeting that would be reminiscent of the Central Urban Work Conference held in 2015, which sought to propel urban planning and infrastructure. That event was the first of its kind in decades and was attended by President Xi Jinping, former Premier Li Keqiang and all the members of the Politburo's standing committee. The speculation relates to the possible resumption in the development of shanty-town areas, which triggered the purchasing of property stocks, said Shujin Chen, head of China financial and property research at Jefferies Hong Kong. Still, such a resumption is unlikely to happen as the government may not have enough funds to support that endeavour, Chen said. China's property sector is mired in a protracted slump. Over the past four years, a number of major developers have defaulted on their debt as government crackdowns and faltering home-buyer sentiment have weighed on their businesses. Officials have taken a number of steps to try and revive the sector, but these have so far had only modest success. Home sales extended their slump in June, spurring calls for fresh stimulus. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up 'The central government really needs to do something, especially after the disastrous June sales,' said Hao Hong, chief investment officer at Lotus Asset Management. The market is betting China will dust off its 2015 playbook to support so called shanty-town redevelopment. Potential measures may include the government speeding up the construction of new homes, offering monetary payouts to families and pumping more money into smaller cities to bolster demand. While the benchmark CSI 300 Index didn't immediately respond to the 2015 meeting, the gauge did rise in the two years following its trough in 2016, driven by a number of reforms. The broader market also jumped on Thursday (Jul 10) with the Shanghai Composite Index closing at the highest level since January 2022. The nation's 10-year government bond rose one basis point to 1.66 per cent. Iron ore futures jumped as much as 3.6 per cent in Singapore. Recent efforts to stabilise the stock and property markets haven't panned out, which is why there are wide-ranging 'bets on some new measures for stimulus,' said Zhu Zhenkun, a fund manager at Hainan Shire Asset Management. Efforts to redevelop shanty-towns would 'rejuvenate the market and bring in liquidity,' he said. BLOOMBERG
Bloomberg
10-07-2025
- Business
- Bloomberg
Chinese Property Shares Surge on Reports of Unverified Meeting
A gauge of Chinese property shares posted its biggest gain in nearly nine months, fueled by speculation a high-level meeting will be held next week to help revive the struggling sector. Shares of Logan Group Co. jumped as much as 85% in Hong Kong, while Sino-Ocean Group Holding Ltd. surged by 37%. The stocks were the top gainers in a Bloomberg Intelligence index of real estate stocks, which was up more than 11%.
