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Property stocks sink, Oaktree seizes assets: Evergrande update

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Property stocks sink, Oaktree seizes assets: Evergrande update

Shares of Chinese developers tumbled on Thursday after the two companies announced plans to issue new shares. According to the British “Financial Times” report, the American investment company Oaktree Capital is in the process of expropriating a piece of land used as collateral by China’s Evergrande Group.

The builder has told creditors it aims to release an initial restructuring plan within the next six months. Evergrande said in a statement after a conference call with stakeholders on Wednesday that it “will continue to listen carefully to the opinions and suggestions of creditors.” The company plans to treat all classes of bondholders, such as domestic and foreign investors, equally, with the help of its financial advisers, a company executive said on a conference call, according to people familiar with the matter.

Other stressed real estate companies are ramping up fundraising efforts ahead of the Lunar New Year holiday. China Aoyuan Group Ltd. — which changed auditors ahead of key industry earnings season — completes real estate sale in Canada, Times China Holdings Ltd. issues new shares in Hong Kong, and Logan Group Ltd. sells equity-linked securities for existing Debt refinancing.

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Evergrande’s shares fell as much as 9.6% at one point, while Times China and Logan’s one-day losses were 32% and 17%, respectively. The Bloomberg Intelligence real estate index fell 4.6%.

Major developments:

Evergrande plans to propose restructuring plan within six months
At the beginning of the new year, housing market crackdown drags down China’s economy
Oaktree Capital seizes Evergrande real estate assets: FT
Property crisis means Chinese cities sell land to themselves
Shimao’s $74M placement limits hurdles to cash-crunch fix
Logan raises funds (8:26am HKT)

Logan sold HK$1.95 billion ($250 million) in equity-linked securities and said it would use the net proceeds to refinance its existing debt. Unless redeemed earlier, the securities are paid semi-annually and expire on August 4, 2026.

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Times China Share Placement (8:17am Hong Kong time)

Times China sold 117.7 million new shares at HK$3.40 each, according to a statement from the Hong Kong Stock Exchange. The price represents a 17.1% discount to the stock’s closing price on Wednesday.

Financial Times says Oaktree to acquire Evergrande assets (2:44am Hong Kong time)

Complete News Source : Hindustan Times

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DTC to start electric buses from 3 Delhi ISBTs to Noida airport by May end

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DTC to start electric buses from 3 Delhi ISBTs to Noida airport by May end

The buses will start and currently serve Greater Noida and Jewar, even though the airport is probably not going to be operational by May By the end of May, the Delhi Transport Corporation (DTC) plans to begin operating electric buses from the Capital to the soon-to-be Noida International Airport (NIA) in Jewar, according to officials. The buses will begin at.

Delhi’s three Inter State Bus Terminals (ISBTs) — Maharana Pratap ISBT at Kashmere Gate, Swami Vivekanand ISBT at Anand Vihar, and Veer Hakikat Rai ISBT at Sarai Kale Khan — and currently serve Greater Noida and Jewar, even though the airport is probably not going to meet the May deadline to be operational The Delhi Transport Corporation (DTC) is set to launch.

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Electric bus services connecting Delhi’s Inter-State Bus Terminals (ISBTs) to the upcoming Noida International Airport (NIA) in Jewar by the end of May 2025. This initiative aims to enhance connectivity between the national capital and the new airport, providing a March 2025, DTC and NIA signed operate thesesustainable and efficient mode transportation for.

Key Features of the Service

  • Routes and Terminals: The electric buses will operate from three major ISBTs in Delhi: Maharana Pratap ISBT at Kashmere Gate, Swami Vivekanand ISBT at Anand Vihar, and Veer Hakikat Rai ISBT at Sarai Kale Khan. Initially, these buses will serve areas in Greater Noida and Jewar, catering to the March 2025, DTC and NIA signed an MoU to operate these demand for public transport in these regions.
  • Memorandum of Understanding (MoU): In March 2025, DTC and NIA signed an MoU to operate these bus services, formalizing the collaboration between the two entities The fleet will consist of air-conditioned, low-floor electric buses equipped with modern amenities, including GPS tracking, CCTV cameras, panic buttons, and broad aisle spaces to accommodate luggage. These features aim to ensure.
  • Commuters passenger safety and comfort during transit While the exact fare amounts are yet to be finalized, discussions are ongoing in consultation with the Yamuna Expressway Industrial Development Authority (Yeida), which manages the Jewar area. The authorities aim to establish a cost-effective fare structure for commuters The bus services will initially be deployed on a pilot basis. Depending demand.

Additional Considerations

  • Infrastructure Development: A four-kilometer stretch of road that will be part of the bus route is not fully developed yet. DTC has reached out to Yeida to ascertain the usability and development timeline of this segment to ensure seamless operations. and passenger feedback, routes may be adjusted, and the number of buses increased to better serve commuters this, the bus services will begin as scheduled.
  • Airport Operational Timeline: Although the NIA was expected to commence operations by mid-May 2025, it is likely to miss this deadline due to ongoing construction work. Despite this, the bus services will begin as scheduled, providing connectivity to the surrounding areas in the interim providing connectivity to the surrounding areas in the interi This initiative reflects DTC’s commitment to.
  • Enhancing public transportation infrastructure and promoting eco-friendly travel options in the National Capital Region. By introducing electric buses on this route, the corporation aims to offer a reliable and sustainable alternative for commuters traveling between Delhi and the upcoming Noida International The Delhi Transport Corporation (DTC) is set to commence electric bus services.
  • connecting Delhi’s Inter-State Bus Terminals (ISBTs) to the upcoming Noida International Airport (NIA) in Jewar by the end of May 2025. This initiative aims to provide eco-friendly and convenient transportation options for commuters traveling between Delhi and the new airport NIA was expected to commence.
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