HONG KONG: Chinese developer Shimao Group has missed the interest and principal payment of a US$1 billion offshore bond due on Sunday in the latest blow to China’s embattled property market.
Shimao hired Admiralty Harbour Capital as its financial adviser and Sidley Austin its legal adviser to help assess and explore ways to manage the liquidity crisis.
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Chinese property developer Shimao misses repayment on $1 billion bondHONG KONG : Chinese developer Shimao Group has missed the interest and principal payment of a US$1 billion offshore bond due on Sunday in the latest blow to China’s embattled property market.Shimao was unable to pay a total of US$1.023 billion in principal and interest to creditors of a senior note list
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Chinese property developer Shimao misses repayment on $1 billion bondHONG KONG : Chinese developer Shimao Group has missed the interest and principal payment of a US$1 billion offshore bond due on Sunday in the latest blow to China’s embattled property market.Shimao was unable to pay a total of US$1.023 billion in principal and interest to creditors of a senior note list
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »