Wednesday , September 28 2022

Evergrande crisis paralyzes other Chinese developers’ access to international market



[ad_1]

Posted in:

14 October 2021 16:47 GMT

Only one developer from the Asian country has managed to attract foreign investors, as the real estate giant stopped paying $83.5 million in interest last month.

The liquidity crisis facing Chinese real estate giant Evergrande has affected the entire Chinese construction industry and paralyzed developers’ international bond sales, the Financial Times reported.

Evergrande stopped paying last month $83.5 million Interestingly, only one organizer from the Asian country managed to attract foreign investors.

Apart from Evergrande, other companies in the Asian country also started to give alarm signals. So, this Monday real estate China Holding He said he was experiencing “financial difficulties” due to a lack of liquidity that would prevent him from repaying his debt to offshore bondholders on time.

The tip of the iceberg?  Experts discuss the causes and consequences of the collapse of the Evergrande group, whose assets account for 2% of China's GDP

In addition to Evergrande and Sinic Holdings, whose bonds have reached approximately 25 cents after the last announcement, two more Chinese companies in the sector, fantasy and Modern LandThey also warned of the need to extend the deadline for payments.

  • Chinese real estate companies struggle to repay loans after Chinese regulators were introduced last year Usage limits of borrowed money, This fueled fears of possible default and instability in financial markets.
  • Investors fear that Evergrande, which has already defaulted on payments to foreign bondholders but has yet to declare default, could go bankrupt. 310 billion dollars debt.
[ad_2]
Source link