Chinese state-linked developer Sino-Ocean Group Holding Ltd. has suspended payment on all its offshore borrowings, citing tight liquidity, as the nation’s property debt crisis deepens. The country’s 25th-largest builder “is fully committed to formulating a viable holistic restructuring of its offshore debts,” Sino-Ocean said in a statement to the Hong…
China Builders Bond-Extension Efforts Face Increased Opposition bloomberg.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bloomberg.com Daily Mail and Mail on Sunday newspapers.
(Bloomberg) China’s housing crisis has engulfed the country’s private developers, producing record waves of defaults and leaving a shrinking group of survivors.Most Read from BloombergHuawei Teardown Shows Chip Breakthrough in Blow to US SanctionsMercedes Bets on Range Boost in Swipe at Tesla’s EV LeadDiamond Prices Are in Free Fall in One Key Corner of the MarketStocks Cede China-Led Gains in Thin Holiday Trade: Markets WrapOut of the nation’s top 50 private-sector developers by dollar bond
Out of the nation’s top 50 private-sector developers by dollar bond issuance, 34 have already suffered delinquencies on offshore debt, according to Bloomberg-compiled data as of Sept. 1.
China: Housing Crisis Spurs Record Defaults, Threatens To Engulf Surviving Developers menafn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from menafn.com Daily Mail and Mail on Sunday newspapers.