HONG KONG/SHANGHAI—Modern Land missed a bond payment, the latest Chinese property developer to do so, adding to worries about the wider impact of the debt crisis at behemoth China Evergrande Group, and dragging on shares in the sector. Modern Land (China) Co., Ltd. said in a filing that it had not repaid principal and interest on its 12.85 percent senior notes that matured on Monday due to “unexpected liquidity issues.” The bond has an outstanding principal of $250 million. Separately, China’s state planner said it and the foreign exchange regulator met with companies in “key sectors,” which a source said included property firms, over their foreign debt holdings, asking them to “optimize” offshore debt structures and prepare to repay interest and principal on foreign bonds. Modern Land’s missed payment comes days after the company, a smaller developer, scrapped plans to seek investor consent to extend the maturity date of its …
-
Recent Posts
-
Archives
- May 2025
- April 2025
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- September 2013
- July 2013
- March 2013
- January 2013
- December 2012
- November 2012
- December 1
-
Meta