From Mingtiandi, March 26:
Sunac China Holdings has become the latest mainland developer to raise the spectre of default, announcing Friday that it was unlikely to redeem two onshore bonds with a combined balance of RMB 6 billion ($940 million) when they come due in early April.
The Tianjin-based builder’s fast-approaching obligations include a RMB 4 billion bond at 4.78 percent interest due on 1 April and a RMB 2 billion bond at 7 percent interest due on 2 April — part of an estimated RMB 17 billion in onshore and offshore capital-market debt maturing in 2022, according to Fitch Ratings....
....MUCH MORE
You have to love this rather droll comment:
Mega-projects like Chengdu Sunac Cultural Tourism City Water and Snow World in Chengdu might have been ill-advised