A selloff in Chinese developers’ debt is deepening, with one of the 20 biggest developers joining a host of firms looking to dodge defaults as debt crises effectively shut them out of the overseas financing market.
China’s dollar high-yield bonds are falling for an eighth-straight day Monday after tumbling nearly 9 cents on the dollar in October, closing out the worst two-month slide in a decade. Yuzhou Group Holdings Co.’s bond due 2025 tumbled 11.6 cents to 38 cents, on pace for its biggest drop in since March, while Sunac China Holdings Ltd.’s note due 2026 fell 5.3 cents to 65.5 cents.
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November 01, 2021 at 10:54AM
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China Developer Yango Tries to Avert Default With Bond Exchange - Bloomberg
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