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World sheet - Evergrande wants to enter the e-mobility

18:25  22 october  2021
18:25  22 october  2021 Source:   boerse-online.de

The definition of the 'American dream' is changing. So is where you can find it.

  The definition of the 'American dream' is changing. So is where you can find it. What if the best current route to social and economic mobility is simply more physical mobility? That doesn’t mean literally living out of a school bus or RV, but it does mean being able to move between regions, following jobs and opportunities.The decade after the financial crash in 2008 witnessed a significant outflow from the Rust Belt to the South and West, but still far too few Americans are moving to improve their lot in life. From the 1940s to 1960s, about one-fifth of Americans moved every year as the population grew and expanded westward.

  Blatt - Evergrande will in die E-Mobilität einsteigen © Bobby Yip / Reuters The real estate trade should be reduced annually in the same period to 200 billion yuan (about 27 billion euros). In 2020, the turnover from real estate transactions was loud Hui at more than 700 billion yuan. The Group had previously transferred millions of funds to an insider to prevent a threatening payment failure. Like the person familiar with the matter of the news agency Reuters on Friday said, the company should have transferred $ 83.5 million to coupon payments on a trust account at Citibank. So Evergrande could settle upcoming payments for a dollar bond. This Saturday, a million heavy interest payment, which would have been due on September 23, runs a posting period. The insider confirmed a report that appeared on Friday in the "Securities Times". Accordingly, Evergrande has to pay off all bondholders before the expiry of the post on 23 October. The message made in investors and overseers for some relief. The real estate company's dollar bonds rose abruptly on Friday morning. The shares of Evergrande also increased by about four percent. Evergrande is located on a debt mountain of around 300 billion dollars. In view of the scope of liabilities, the financial markets were ensured that a collapse of the Group could trigger a landscape in the Chinese real estate sector. Non-payment of interest would have to lead to a formal payment failure of the company and trigger a late payment for other dollar bonds from Evergrande. "This is a positive surprise," said James Wong, portfolio manager at Gaoteneng Global Asset Management, and added that many had expected a default. The news will strengthen the confidence of bondholders, so Wong. Evergrande has coupon payments amounting to approximately $ 280 million due on October 23 and 29 and October 11 and October 11, with its dollar bonds. This was set in motion for a period of 30 days. At first Evergrande, there was no opinion on the information about the interest payment to be obtained. RTR   Blatt - Evergrande will in die E-Mobilität einsteigen © Bobby Yip / Reuters

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This is interesting!