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1 week ago | 
bloomberg.com | Trista Xinyi Luo |Jackie Cai |Pearl Liu
(Bloomberg) -- Hong Kong-based Li & Fung Ltd. is considering a potential bond offering and has held meetings with investors to gauge interest, according to people familiar with the matter. Li & Fung representatives met with investors in Hong Kong in recent weeks to discuss the potential sale, said the people, who asked not to be identified as the information is private. The move could help the supply chain firm manage its debt obligations, with an existing bond due later this year.
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1 week ago | 
bloomberg.com | Jackie Cai |Trista Xinyi Luo |Pearl Liu
(Bloomberg) -- New World Development Co. has paid interest due on a dollar note, according to several bondholders, giving the indebted Hong Kong builder some breathing room as it works to complete an HK$87.5 billion ($11.1 billion) loan refinancing deal. The company owed $5.05 million in interest by Monday on the 5.875% bond, according to Bloomberg calculations.
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1 week ago | 
flipboard.com | Jackie Cai |Trista Xinyi Luo |Pearl Liu
6 hours agoAI Is Going to 'Replace Everybody' in Several Fields, According to the 'Godfather of AI.' Here's Who He Says Should Be 'Terrified.'Geoffrey Hinton, called the "Godfather of AI" due to his pioneering work on AI, says some fields face a heavier risk of replacement due to automation. The "Godfather of AI" says that some fields are safer than others when it comes to being replaced by AI.
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1 month ago | 
news.bloombergtax.com | Dong Cao |Jackie Cai
China’s antitrust regulator has approved a PAG-led acquisition of 48 shopping malls under Dalian Wanda Commercial Management Group Co. The State Administration for Market Regulation, in a notice this week, also listed Tencent Holdings Ltd., Sunshine Life Insurance Corp. and a vehicle backed by JD.com Inc.as investors in the Wanda malls. It didn’t provide further details. According to people familiar with the matter, the deal will be done via a 50 billion yuan ($6.9 billion) fund.
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1 month ago | 
news.bloomberglaw.com | Dong Cao |Jackie Cai
China’s antitrust regulator has approved a PAG-led acquisition of 48 shopping malls under Dalian Wanda Commercial Management Group Co. The State Administration for Market Regulation, in a notice this week, also listed Tencent Holdings Ltd., Sunshine Life Insurance Corp. and a vehicle backed by JD.com Inc.as investors in the Wanda malls. It didn’t provide further details. According to people familiar with the matter, the deal will be done via a 50 billion yuan ($6.9 billion) fund.
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1 month ago | 
bloomberg.com | Dong Cao |Jackie Cai
The Dalian Wanda Group Co. Qingpu shopping mall in Shanghai. (Bloomberg) -- China’s antitrust regulator has approved a PAG-led acquisition of 48 shopping malls under Dalian Wanda Commercial Management Group Co. The State Administration for Market Regulation, in a notice this week, also listed Tencent Holdings Ltd., Sunshine Life Insurance Corp. and a vehicle backed by JD.com Inc. as investors in the Wanda malls. It didn’t provide further details.
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1 month ago | 
news.bloombergtax.com | Trista Xinyi Luo |Pearl Liu |Jackie Cai
Chinese developer Country Garden Holdings Co. has secured backing from nearly 75% of bondholders for its offshore restructuring, according to people familiar with the matter, ahead of a liquidation hearing next week. The company needs the support of creditors holding three-quarters of all debt as well as majorities of individual groups of debt holders to pass the plan through a “scheme of arrangement” procedure in Hong Kong.
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1 month ago | 
news.bloomberglaw.com | Trista Xinyi Luo |Pearl Liu |Jackie Cai
Chinese developer Country Garden Holdings Co. has secured backing from nearly 75% of bondholders for its offshore restructuring, according to people familiar with the matter, ahead of a liquidation hearing next week. The company needs the support of creditors holding three-quarters of all debt as well as majorities of individual groups of debt holders to pass the plan through a “scheme of arrangement” procedure in Hong Kong.
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1 month ago | 
bloomberg.com | Trista Xinyi Luo |Pearl Liu |Jackie Cai
Residential buildings under construction at Country Garden Holdings Co.'s Century Center development in Foshan. (Bloomberg) -- Chinese developer Country Garden Holdings Co. has secured backing from nearly 75% of bondholders for its offshore restructuring, according to people familiar with the matter, ahead of a liquidation hearing next week.
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2 months ago | 
news.bloomberglaw.com | Pearl Liu |Dong Cao |Trista Xinyi Luo |Jackie Cai
Chinese builder Sunac China Holdings Ltd. is discussing with some major creditors a plan to convert all of its offshore bonds into equity, according to people familiar with the matter, as it embarks on a second debt restructuring amid persistent liquidity problems. Options available to creditors would include mandatory convertible bonds with different conversion periods, which would eventually become shares, said the people, who asked not to be identified discussing private matters.
