People walk past the logo of property developer Shimao Group near Shimao Tower in Shanghai, China January 13, 2022. REUTERS/Aly Song
HONG KONG: Shimao Group has sweetened its offshore debt restructuring terms to garner support from creditors, said three sources, as the Chinese property developer scrambles to fend off a liquidation petition filed in a Hong Kong court.
Shimao will on Wednesday face its first court hearing into the liquidation petition filed by state-owned lender China Construction Bank (Asia) over unpaid loans of HK$1.58 billion ($201.75 million).
