Mar 01, 2022 05:15 PM

FINANCE

Chinese Developers Are Buying Back Their Bonds at a Discount

An unfinished building at China Evergrande Group's Health Valley development on the outskirts of Nanjing, China on Oct. 22. Photo: Bloomberg

An unfinished building at China Evergrande Group's Health Valley development on the outskirts of Nanjing, China on Oct. 22. Photo: Bloomberg

(Bloomberg) — China’s stressed developers are taking advantage of spiraling prices to repurchase their dollar bonds at discounted levels.

Times China Holdings Ltd., Powerlong Real Estate Holdings Ltd. and Agile Group Holdings Ltd. disclosed a combined $132 million of additional buybacks in filings late Monday with Hong Kong’s stock exchange. The involved notes all mature in March or April.

　

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