Further signs of stress emerged in China’s indebted real estate sector after Modern Land China Co. missed payment on a dollar bond, ahead of a test later this week for China Evergrande Group on an overdue coupon.
Modern Land didn’t repay either the principal or interest on a $250 million bond due Monday, according to a filing to the Singapore stock exchange Tuesday morning. The company is working with its legal counsel Sidley Austin and expects to engage independent financial advisers soon, the filing said.
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October 26, 2021 at 07:57AM
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Developer's Payment Miss Signals More Stress: Evergrande Update - Bloomberg
"payment" - Google News
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