Chinese developer Sunac China has missed the deadline for a coupon payments on a $742 million offshore bond and said, it doesn’t expect to make payments coming due on other bonds as well. The development adds to the wave of defaults… Read More ›
property developer
Cash strapped Shimao Group sells sake in Guangzhou Asian Games City to reduce debt
China’s Shimao Group, a property developer has joined smaller peer Agile Group to sell its stake in the Guangzhou complex to China Overseas Land & Investment, a state-owned partner in a move aimed at slashing its debt. Late on Monday, Shimao,… Read More ›
Dubai state-owned property developer Limitless close to signing third debt restricting agreement
In a statement property developer Limitless said, it is close to signing an agreement with creditors over around $760 million of troubled debt, marking its third restructuring in a decade. Dubai state-owned Limitless along with Nakheel, was among the biggest… Read More ›
China Evergrande to repay $1.75 billion on Monday
In a statement China’s most indebted property developer said, it had arranged $1.75 billion (HK$13.6 billion) to repay bonds which will mature on Monday; it also aims to repay interest on all other dollar bonds. On Thursday, the company said,… Read More ›
Debt pile of China’s Evergrande Group poses systemic risk to China’s social and economic fabric
Over burdened with a pile of debt, China’s second biggest property developer, Evergrande Group, is desperate for government support for a restructuring plan that has been waiting for four years, and has warned that it faces a cash crunch that… Read More ›
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