Cifi’s shares plunged by more than 10 per cent on Thursday after the developer confirmed the missed payment in a filing to the Hong Kong stock exchange. Photo: Shutterstock
Cifi’s shares plunged by more than 10 per cent on Thursday after the developer confirmed the missed payment in a filing to the Hong Kong stock exchange. Photo: Shutterstock

Cifi defaults on bond, triggering sell-off of developers, fears Chinese property debt crisis is spreading

  • Cifi Holdings defaults on US$318 million convertible bond due 2025, blaming the National Day holiday for the delayed payment
  • Bonds and shares of Country Garden, Longfor and Seazen slump as investor confidence ‘totally collapses’

Cifi’s shares plunged by more than 10 per cent on Thursday after the developer confirmed the missed payment in a filing to the Hong Kong stock exchange. Photo: Shutterstock
Cifi’s shares plunged by more than 10 per cent on Thursday after the developer confirmed the missed payment in a filing to the Hong Kong stock exchange. Photo: Shutterstock
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