Here's what we are reading this morning:
Evergrande Unit’s Bondholders Yet to Receive Coupon Payments - BNN Bloomberg: Two holders of dollar notes sold by a unit of China Evergrande Group are yet to receive payment for coupons that were officially due Saturday.
Some investors have not received Evergrande unit's bond interest due Nov 6, say sources | Reuters: Some holders of offshore bonds issued by a unit of developer China Evergrande Group had not received interest payments due on Nov. 6 by Monday evening in Asia, two people familiar with the matter said.
AMC Entertainment Launching Retail Popcorn Business Says CEO Adam Aron – Deadline: Theatrical giant AMC Entertainment said Thursday that it’s “expanding its business outside of the traditional theatrical exhibition industry with plans to capture a piece of the growing multi-billion dollar popcorn market.”
Hot US Housing Market Drives Home Equity Loans and Cash Out Refinancing Binge - Bloomberg: Homeowners are taking advantage of a global housing boom by pulling equity out of their homes at the highest volume since the financial crisis.
Rent-A-Center's Acima fintech unit under investigation in 39 states | Retail Dive: The virtual lease-to-own specialist was acquired less than a year ago for $1.3 billion as Rent-A-Center seeks digital scale and retail partners.
Fight Over Failed Movie-Theater Deal Persists, Highlighting Industry’s Challenges: Cineworld walked away from an agreement to buy Cineplex after the Covid-19 pandemic hit, prompting Cineplex to sue. A judge is expected to rule on the case in coming months.
Parent of GC Services Files for Prepackaged Bankruptcy: The debt collector seeks chapter 11 protection in Houston to manage a debt load that is 14.5 times earnings.
Chinese Developer Controlled by Government Is Latest to Plunge - Bloomberg: Sino Ocean Group Holding Ltd., part-owned by the finance ministry, has become the latest property company to see its bonds slump. Its 4.75% note due 2030 fell Monday to as low as 73.48 cents on the dollar, with spreads over comparable Treasuries widening to a record 800 basis points, according to data compiled by Bloomberg.
ORG GC Midco, LLC Commences "prepackaged" Chapter 11 Case To Strengthen Capital Structure And Reduce Debt: GC Services Limited Partnership, one of North America's oldest and largest providers of business process outsourcing and accounts receivable management solutions, today announced that its indirect owner and parent company, ORG GC Midco, LLC has commenced a fully consensual "prepackaged" case under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas.