Wanda Says It's Finalizing Asset Disposal

The transcript discusses Wanda's financial struggles with a $400 million bond due soon, causing market fluctuations. Despite initial setbacks, confidence in repayment grew due to potential asset sales. The broader high yield market, especially Chinese property bonds, faces challenges with many trading at low values. Recent defaults have heightened concerns. Sino Ocean, a state-backed developer, is seeking to extend a Yuan bond due soon, highlighting ongoing financial pressures in the sector.

What was the initial report by Bloomberg regarding Wanda's financial situation?

• Wanda was $200 million short on a bond payment.

• Wanda had successfully paid off all its bonds.

• Wanda was planning to issue new bonds.

• Wanda was merging with another company.

What was the bond's value after it initially fell?

• $1.00 on the dollar

• $0.90 on the dollar

• $0.75 on the dollar

• $0.53 on the dollar

What is the significance of the $400 million bond for Wanda?

• It is the largest bond they have issued.

• It is the main focus for overcoming financial hurdles.

• It is the last bond they need to pay.

• It is unrelated to their current financial issues.

How many Chinese property dollar bonds are trading at $0.10 to the dollar?

• 180 out of 322

• 100 out of 250

• 200 out of 400

• 150 out of 300

What is Sino Ocean's plan regarding its upcoming bond maturity?

• To sell off assets to cover the bond

• To issue new bonds

• To extend the bond maturity

• To pay off the bond immediately