SUNAC China Holdings Ltd has defaulted on a dollar bond, becoming one of the biggest Chinese property companies to renege on its obligations amid a record-breaking wave of missed payments.
China’s fourth-largest developer says in a filing to the Hong Kong stock exchange that it didn’t pay a US$29.5mil (RM129.74mil) coupon on the note before the end of a grace period Wednesday and that it doesn’t expect to make payments on other securities.
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