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Chinese property developer Shimao misses repayment on US$1 billion bond

Channel News Asia LogoChannel News Asia1 mo ago

Chinese property developer Shimao misses repayment on US$1 billion bond

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HONG KONG: Chinese developer Shimao Group has missed the interest and principal payment of a US$1 billion offshore bond due on Sunday (Jul 3) in the latest blow to China’s embattled property market.

Shimao was unable to pay a total of US$1.

The developer has not received notice of acceleration of repayment from its lenders, it said, suggesting the debtholders have not moved to take enforcement actions.


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Chinese property developer Shimao misses repayment on US$1 billion bond - Channel News Asia (Picture 1)

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Article Details

Category: Economy

Topics: Chinese Property Developer Flag Group Shimao Mediacorp Shanghai China Loans Creditors

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-07-03, 19:51:00

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Reading Time: 3 minutes read

Article Length: 387 words

Coverage Area: Singapore

Availability: Desktop Web, Mobile Web

News ID: 27282

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About Channel News Asia

Channel News Asia Logo

Main Topics: Economy

Official Website: channelnewsasia.com

Update Frequency: 60 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 1h ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #27

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