Since the next morning of November, after the interviews of the Bailboard Trader Association, the real estate financing of "four-sided Chu song" this year seems to go out to dark moments, and many housing enterprises have successfully issued bonds.
But so far, real estate corporate debt is still difficult to speak, high-afford pressure will continue until July next year. November bond financing cyancy increases more than five completed several national-funded housing companies successfully issued bonds, private real estate corporate financing tools have also have new progress. At the beginning of December, the Bank of China Market Traders Association received an application for the mid-Territory registration of Country Garden and Longhu.
From the current perspective, the successful establishment of multi-family household credit financing plans showed that the bank bond market financing port has been opened.
In fact, from September, the regulatory layer continuously releases the correction signal, and the financial institutions are required to "accurately grasp and implement the real estate finance prudent management system."
Since then, real estate enterprises are further satisfied.
Shell Research Institute data shows that in November, the bond finance in November is 48, an increase of 17 in the previous month, and the distribution scale is equivalent to approximately 47.3 billion yuan, and% increase in the year, a year-on-year reduction%.
WIND data also presents signs of financing, the number of debts is "double-liter" in the scale of debt. Since November, real estate companies have issued 42 bonds in the domestic bond market, adding 10 in October.
The scale of debt is more than 42 billion yuan, an increase of 80% from the previous month. However, although the domestic financing environment has been fixed, the market heat has not been delivered to overseas. With the continued low valuation of foreign dollar debt market, the institutions driven by the stack of stacks, the impact of rating incidents, the overseas finance markets of real estate enterprises are still "four sides". Shell Research Institute data shows that in November, overseas financing fell to the bottom of the valley in recent years, only 2 bonds were successfully issued, and the debt size was only 100 million US dollars.
At the same time, the two dollar debt interest rates are huge by corporate credit and scale.% And% are%.
The relevant agencies pointed out that the overseas debt financing environment is relatively lag, in the next few months, with the domestic financing environment improvement and the recovery of the real estate market, the overseas debt financing environment may gradually improve.
The whole year’s financing or a new year in November in the past four years has not been completed, the central bank has announced that the financial institution’s deposit reserve ratio will be lowered by the financial institution, and the financing end can be said to be a warm air at the end of the year. Continuous, but overall, real estate financing is relieved, but the improvement is limited. The shell research institute data shows that the accumulated financing of 846.6 billion yuan in domestic and foreign bonds from January to November 2021, fell nearly two% from 2020, and at the bottom level of nearly four years.
After combating, the proportion of debt size in the first four years in January-November this year is% (2020),% (2019),% (2018). Near the end of the year, according to the current bond market environment, the number of issues in the year may set a new low in the past four years. The high-affiliated bond will last until July next year to further improve liquidity pressure, recent, Greenland Group, Xuhui Group, Sunshine City, Urban Development, New City Holdings, Dafa Real Estate, etc., including shareholders’ borrowing. , Debt exhibition, mortgage assets, transfer shares, price exchange, adjustment of internal frameworks, joint development, etc.
Despite this, real estate companies’ debt repression is still huge.
Shell Research Institute expects that the debt scale of the real debts in December is as high as 80 billion.
In the future, accelerate the return, cautiously, it is still the main melody of the real estate industry. On the other hand, overseas bond markets will also face great tests.
In recent years, the scale of overseas debt financing is continuously climified, and some funds liquid homes are also placed in a risk while promoting the development of enterprises. According to data from the Zhongtai Securities Research Institute, it is the peak of the real estate dollar debt in July next year, and the expiration of the US $ 100 million, accounting for 70% of the year expiration.
Among them, in January, March, April, June, July bond expired were the most concentrated, and the monthly expiration scale exceeded US $ 7.5 billion.
Many young people said that in the face of the upcoming overseas debt subsidiary peak, housing companies must do the intention of "tight days". In recent time, under multiple pressure, some housing companies have begun to speed up self-help and deliver a positive signal to the market. According to the incomplete statistics of the Chinese house network, as of the end of November, the Chinese communities including the Cangzhou Group, Helens, Xuhui Group, Zhongliang Holdings, and Yaxu Group, etc. in the past months, returned The total amount of total amount is $ 100 million. It is worth noting that despite the frequent purchase of house companies, the repo quota of housing companies is not very high, and the road to the debt is still long.