International investors alone have put around $23.67B into 23 bonds & 3 large loans issued by #Evergrande. Among the already known institutional investors are well-known addresses such as Fidelity, Blackrock, UBS, Ashmore Group, Prudential, HSBC, Pictet, Vontobel, BNP & Allianz.
Investors should be concerned about the spillovers to the real economy and to broader credit conditions. Since #RealEstate is so central to the economy, #Evergrade's financial difficulties will have an amplified tightening effect on credit conditions in the broader economy.💸
However, by far NOT all international investors are known so far, but only 148 investors with increased reporting obligations, such as fund companies, have invested a total of $3,440,000,000! It will still be some negative surprises here. 💸
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