Debt Woes Grow for Chinese Developers CIFI, Greenland
Two large Chinese developers have flagged further debt issues as the nation’s real estate crisis shows little sign of abating.
Hong Kong-listed private developer CIFI Holdings Group Co. Ltd. said Tuesday it has suspended all principal and interest payments on about $6.85 billion in offshore debts. The firm hinted that it may seek debt restructuring, saying it would “explore a holistic solution” to the credit crisis.
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