Residential buildings under construction in Beijing on December 16, 2022 at the Honor of China project, originally developed by Shimao Group Holdings before its sale to state-owned China Resources Land. Photo: Bloomberg
Residential buildings under construction in Beijing on December 16, 2022 at the Honor of China project, originally developed by Shimao Group Holdings before its sale to state-owned China Resources Land. Photo: Bloomberg
Bonds

Too little too late? Chinese developer misses bond payment even as the state dives in to save ailing property sector

  • Times China Holdings did not pay coupons on two dollar notes before grace periods ended within the past week, it said in a filing with Hong Kong’s stock exchange
  • An event of default occurs if the company fails to pay interest within 30 days of the due date, according to a circular for one of Times China’s dollar bonds

Residential buildings under construction in Beijing on December 16, 2022 at the Honor of China project, originally developed by Shimao Group Holdings before its sale to state-owned China Resources Land. Photo: Bloomberg
Residential buildings under construction in Beijing on December 16, 2022 at the Honor of China project, originally developed by Shimao Group Holdings before its sale to state-owned China Resources Land. Photo: Bloomberg
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