1/6/2022- 10:44 p.m.
Chinese developer DEFAULTS on loan – Trust Firm claims $101mn overdue
Shimao Group Holdings has defaulted on a yuan loan with $101mn in overdue payments, according to China Credit Trust which is handling sales of the high-yielding investment product.
In recent weeks the company’s bonds have tumbled amidst speculation over payment difficulties after China Credit Trust demanded an early repayment on 25 December following failures to meet installments.
