[Contagion] Chinese developer Shimao puts all property projects on sale. Someone needs cash to pay $106M coupon notes this month…

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SHANGHAI, Jan 10 (Reuters) – Shimao Group Holdings has put on sale all of its real estate projects, including both residential and commercial properties, as the cash-strapped Chinese property developer accelerates asset disposals, Caixin reported.

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Shimao, which defaulted on a trust loan last week, has asked agents since late December to help seek buyers for its properties, Caixin reported over the weekend.

The company didn’t immediately respond to a request for comment.

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www.reuters.com/markets/rates-bonds/chinese-developer-shimao-puts-all-property-projects-sale-caixin-2022-01-10/

h/t  laflammaster

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