Sunac China has informed some of its dollar creditors it is unlikely to meet a September bond maturity deadline, sources said, as weak sales raise the prospects for a new round of offshore debt restructuring in the property sector https://t.co/GtvW9GQ4ul
"Compared to 'Sunac time', the environment is very different, hence the terms have to be very different," said a developer in restructuring talks. "We don't use Sunac as a template. It's not achievable." https://t.co/jTS5JboNYm
Today on Reuters World News daily podcast:
🇺🇸 President Biden lands in Europe for a NATO summit
🇭🇰 The Hong Kong hostels offering cheap accommodation for young people
🏭 A backlash against a giant new EV battery plant in Michigan https://t.co/zkpQZxZ8Ll
What emerges at the Party Congress could help determine how Chinese property developers pace any asset sales, extract or offer concessions to creditors, or even put themselves up for liquidation https://t.co/ACwJmi0dAO
Analysis-Too big to fail or too tough to save? Evergrande to speed up asset sales as hopes swirl about gov't lifeline via @clarejim https://t.co/fOXcBRGImv
Scoop - China's attacks on 'foreign forces' threaten Hong Kong's global standing - ivs with 14 diplomats incl top US envoy in #HK w/ @GregTorode@a_roantree https://t.co/6YYXeZEdjo
New editorial rules at TDM Portuguese unit require reporters to promote “patriotism, respect and love” for mainland China. "Now maybe it's the only wild horse left, so they want to impose the red line on it too.” https://t.co/2eS8QvcNdP with @farahmaster
“Nothing is normal anymore. It’s a new abnormal.” Analysis: #China electoral reform 'earthquake' set to upend #HK politics as crackdown intensifies w/ @clarejim#HongKongProtests https://t.co/bSHmIWJRAO
Two foreclosed properties belonging to a mainland Chinese investor recently sold at discounts of 25% and 12%, and banks started putting auctions on hold to go back to court to ask for a lower base price https://t.co/Bfnp0jZ9ev
lenders in Hong Kong say they are concerned about a 30% drop in building values over the past 12 months and will consider calling in or restructuring loans if values fall much further https://t.co/4Gg13UBsqf