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HONG KONG (Reuters) – Chinese property developer Shimao Group has missed the interest and principal payment of a $1 billion offshore bond due on Sunday, in the latest blow to China’s embattled property market.
The non-repayment was the first missed public offshore payment for the Shanghai-based developer. With an outstanding $6.1 billion international bonds, Shimao is the sixth largest issuer among Chinese developers, according to Refinitiv.
www.msn.com/en-au/money/companies/chinese-property-developer-shimao-misses-repayment-on-1-billion-bond/ar-AAZ8U0r?cvid=94964c907ef94ba7ffb039cc5b18f08b&ocid=winp2sv1plustaskbarhover
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