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China’s offshore bonds watchdog promises easier funds transfer for developers to pay their debt after giving them a tongue lashing

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[unable to retrieve full-text content]China’s overseer of offshore bonds has swung into action, promising easier access to foreign exchange to enable the borrowers of overseas debt to fulfil their obligations, as a string of missed payments turns the final quarter of 2021 into another record period of defaults.In a meeting with several of the biggest offshore bond issuers,the National Development and Reform Commission (NDRC) said it would smooth the way to meet borrowers’ “reasonable needs” in debt swaps, registering dollar bonds…

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[unable to retrieve full-text content]
China’s overseer of offshore bonds has swung into action, promising easier access to foreign exchange to enable the borrowers of overseas debt to fulfil their obligations, as a string of missed payments turns the final quarter of 2021 into another record period of defaults.In a meeting with several of the biggest offshore bond issuers,the National Development and Reform Commission (NDRC) said it would smooth the way to meet borrowers’ “reasonable needs” in debt swaps, registering dollar bonds…

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