Mar 09, 2022 04:48 AM

BUSINESS

Chinese Developer Logan Faces $839 Million Liquidity Crunch This Month

By Wang Juanjuan and Denise Jia

Logan Holdings has 5.3 billion yuan of domestic debt and asset-based securities due in March.

Logan Holdings has 5.3 billion yuan of domestic debt and asset-based securities due in March.

Logan Group Co. is under pressure to repay debt as the company has 5.3 billion yuan ($839 million) of domestic borrowings due this month, the Chinese developer acknowledged Monday.

The company’s liquidity crunch reflects the external financing situation, declines in industry sales and the concentration of debt maturity, Logan Group’s wholly owned subsidiary Shenzhen Logan Holdings Co. Ltd. said in a statement.

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