China Vanke offshore bondholders face near wipeout in Barclays worst-case scenario
In a base-case scenario, bondholders may recover just 10.1 per cent of what they were owed, roughly half what already deeply distressed market prices suggested, the British bank said in a report. However, in a worst-case scenario, assuming lower proceeds from onshore assets and netting out intragroup balances, the estimated recovery would drop to just…