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Chinese state-linked developer Sino-Ocean has suspended payment on all its offshore debts

Chinese state-linked developer Sino-Ocean has suspended payment on all its offshore debts
Another China property sector casualty.Earlier this week state-backed Sino-Ocean Group Holding Ltd. halted trading in a local note that matures in two weeks, flagging “significant” uncertainty in repaying that security. Up until recently the firm had been viewed by investors as among the few developers capable of weathering an industrywide debt crisis.Sino-Ocean has long avoided repayment issues that hit some fellow government-linked peers. But no more. Sino-Ocean shares fell 10% Tuesday to a fr... Read More
Posted: Sep 15 2023, 00:23
Author Name: forexlive
Views: 112579

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