Once bitten, twice shy. You would imagine dollar bond investors have gotten wiser after China Evergrande Group’s spectacular default.

By the time a Hong Kong court ordered the world’s most indebted developer into liquidation on Monday, global investors were holding worthless notes that would give them nothing, wherever they litigate. The offshore liquidator will somehow have to extract cash from Evergrande’s 1,200-plus project companies. Bondholders will likely have to wait for years just to get back a few cents on the dollar.

QOSHE - Bond Traders Learned a Twisted Lesson From Evergrande’s Fall - Shuli Ren
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Bond Traders Learned a Twisted Lesson From Evergrande’s Fall

5 5
02.02.2024

Once bitten, twice shy. You would imagine dollar bond investors have gotten wiser after China Evergrande Group’s spectacular default.........

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