Chinese language property developer Shimao misses reimbursement on $1 billion bond

HONG KONG, July 3 (Reuters) – Chinese language property developer Shimao Group (0813.HK) has missed the curiosity and principal cost of a $1 billion offshore bond due on Sunday, within the newest blow to China’s embattled property market.

The non-repayment was the primary missed public offshore cost for the Shanghai-based developer. With an impressive $6.1 billion worldwide bonds, Shimao is the sixth largest issuer amongst Chinese language builders, in line with Refinitiv.

China’s property sector has been hit by a collection of defaults on offshore debt obligations, highlighted by China Evergrande Group (3333.HK), as soon as the nation’s top-selling developer

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