Chinese Developer Makes Early Debt Payment After Chair’s Resignation Rattles Investors

What’s new: Chinese property developer Longfor Group Holdings Ltd. on Monday made an early payment towards a loan after the resignation of its chair rattled investors already put on edge by the industrywide crisis.

The company paid HK$5.1 billion ($649.7 million) towards the syndicated loan due next year, according to an exchange filing.

Longfor’s Hong Kong stock closed down 23.78% on Monday, narrowing from a 40% slump in the morning. The yield on its 3.95% offshore bond maturing 2029 jumped 9.2 percentage points.