HONG KONG (Reuters) – Chinese property developer Shimao Group has missed the interest and principal payment of a $1 billion offshore bond due on Sunday, in the latest blow to China’s embattled property market.
The non-repayment was the first missed public offshore payment for the Shanghai-based developer. With an outstanding $6.1 billion international bonds, Shimao is the sixth largest issuer among Chinese developers, according to Refinitiv.
Got a news tip or correction? Let us know
If you got something out of this, please chip in to keep this site running, or subscribe to go ad-free.
6 views