Evergrande Said As The Company's U.S. Dollar Denominated Notes Are Governed By New York Law, The Company Has Applied To The U.S. Court Under Chapter 15 Of The U.S. Code For Recognition Of The Schemes Of Arrangement Under Offshore Debt Restructuring
Portfolio Pulse from Charles Gross
The company has applied to the U.S. court for recognition of the schemes of arrangement under offshore debt restructuring, as its U.S. dollar denominated notes are governed by New York law. The application is made under Chapter 15 of the U.S. Code.
August 18, 2023 | 9:25 am
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NEUTRAL IMPACT
The news does not directly mention FXI, but as it tracks Chinese large-cap stocks, the debt restructuring of a company could indirectly affect it.
While the news does not directly mention FXI, it could be indirectly affected if the company undergoing debt restructuring is a large-cap Chinese company that FXI tracks.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
The news does not directly mention SPY, but as it tracks the S&P 500, the debt restructuring of a company could indirectly affect it.
While the news does not directly mention SPY, it could be indirectly affected if the company undergoing debt restructuring is a part of the S&P 500 that SPY tracks.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50