Kaisa Group Holdings – Second Domino Falls

China Evergrande Group – Making Those Payments

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Silver Point

Thomas J. Monaco

Independent Insight Provider

Silver Point is a boutique research firm that focuses on the broader financial services sector, with a particular focus on troubled institutions globally. 

Asia Ex Japan

Equity Bottom-Up

<ul>
<li>
Stadium Levy:Likely Guangzhou City Construction Investment Group has seized the halted China Evergrande Group’s (3333.HK) [Evergrande] stadium project in order to dispose of it;</li>
<li>
Stake Sale:In order to stave off default, Evergrande’s Chairman reduced his family’s stake, raising the equivalent USD 344 mn; and</li>
<li>
Guarantee and Grace Period:Investors are threatening to re-invoke Evergrande’s Jumbo Fortune bond guarantee, and we await the expiry of another 30-day grace period expiry on December 6, 2021.</li>
</ul>



Stadium Levy:Likely Guangzhou City Construction Investment Group has seized the halted China Evergrande Group’s (3333.HK) [Evergrande] stadium project in order to dispose of it;

Stake Sale:In order to stave off default, Evergrande’s Chairman reduced his family’s stake, raising the equivalent USD 344 mn; and

Guarantee and Grace Period:Investors are threatening to re-invoke Evergrande’s Jumbo Fortune bond guarantee, and we await the expiry of another 30-day grace period expiry on December 6, 2021.


China Evergrande Group – Levies and Liquidations