Vanke Dollar Bondholders Asked to Call Default by Advisory Firm
A debt advisory firm asked China Vanke dollar bondholders to consider calling a default on the embattled developer’s notes, based on cross-default clauses, Bloomberg reported via The Edge. PJT Partners, which has been seeking to advise Vanke’s creditors, told the bondholders that an event of default was triggered after an original grace period on one of the firm’s onshore notes expired in December.
Vietnam Central Bank Cuts Credit Growth Target to 15% After Warnings on Asset Bubbles
Vietnam’s central bank has cut its target for credit growth to around 15% this year, it said over the weekend, after warnings of financial risks from last year’s credit splurge, Reuters reported via CNA.
Singapore Defends GIC, Temasek Returns as Reasonable
Returns generated by Singapore sovereign wealth fund GIC and state investor Temasek are reasonable and within expectations given their mandates and risk profiles, Reuters reported, citing a minister.
Credit Costs Rise for Shapoorji Pallonji Group Firm as Refinancing Timeline Slips
Shapoorji Pallonji Group’s Porteast Investment has seen the cost of its private credit financing rise about 2 percentage points to 21.75% after a contractual step-up linked to payment milestones was triggered, ET reported, citing people familiar with the matter.
Australian Household Spending Beats Expectations in November
Australia’s household spending rose at a faster-than-expected pace in November, indicating consumers are feeling confident about their finances even as inflation and borrowing costs remain elevated, Bloomberg reported via BT.