Investors Have a New Default Worry in Chinaâs Debt Market
Jan 12 2021, 5:00 PM
January 12 2021, 6:00 AM
January 12 2021, 5:00 PM
(Bloomberg) Investor confidence in China Fortune Land Development Co. Ltd. is tumbling as concerns grow about its debt repayment abilities just as Beijing steps up efforts to cut risk in the real estate sector.
(Bloomberg) Investor confidence in China Fortune Land Development Co. Ltd. is tumbling as concerns grow about its debt repayment abilities just as Beijing steps up efforts to cut risk in the real estate sector.
The mid-sized developerâs dollar bonds fell to record lows earlier Tuesday, with some rebounding but a note due 2024 still down at 49.8 cents on the dollar at 5:23 p.m. Hong Kong time, Bloomberg-compiled prices show. The bond was quoted at around 86 cents at the end of last year. The firmâs onshore bonds also slumped, with one due December 2025 down 58% at 43 yuan.