A worker prepares to weld a steel structure at a construction site in Beijing. Chinese property firms are scrambling to avoid outright default on their upcoming debt obligations. Photo: AFP
A worker prepares to weld a steel structure at a construction site in Beijing. Chinese property firms are scrambling to avoid outright default on their upcoming debt obligations. Photo: AFP

Chinese developer Sinic warns of default on US$250 million bond due next week

  • Sinic Holdings has US$694 million in dollar bonds outstanding and has already missed domestic payments last month
  • Borrowing costs for dollar junk-rated debt, which is dominated by Chinese developers, soars to highest level in about a decade with yields at 17.5 per cent

Topic |   China property
A worker prepares to weld a steel structure at a construction site in Beijing. Chinese property firms are scrambling to avoid outright default on their upcoming debt obligations. Photo: AFP
A worker prepares to weld a steel structure at a construction site in Beijing. Chinese property firms are scrambling to avoid outright default on their upcoming debt obligations. Photo: AFP
READ FULL ARTICLE