Modern Land (China) default underscores growing distress among Chinese property developers while investors brace for a debt restructuring at Evergrande. Photo: EPA-EFE
Modern Land (China) default underscores growing distress among Chinese property developers while investors brace for a debt restructuring at Evergrande. Photo: EPA-EFE

Evergrande fallout: Modern Land defaults on US$250 million bond as some investors question Chinese developers’ willingness to pay

  • Chinese developer cites liquidity issues for defaulting on a US$250 million bond, after scrapping a repayment proposal last week
  • Default risk mounts for Chinese developers as a 30-day grace period ends this week for Evergrande on interest payment for a US$1 billion bond

Topic |   China Evergrande Group
Modern Land (China) default underscores growing distress among Chinese property developers while investors brace for a debt restructuring at Evergrande. Photo: EPA-EFE
Modern Land (China) default underscores growing distress among Chinese property developers while investors brace for a debt restructuring at Evergrande. Photo: EPA-EFE
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