In Depth: As Chinese Developers Inch Toward Offshore Debt Deals, Long-Term Headwinds Persist

Some Chinese property developers that defaulted on billions of dollars of offshore bonds are edging closer to debt restructuring deals with investors — China Evergrande Group, Sunac China Holdings Ltd., and Fantasia Holdings Group Co. Ltd. are among the companies that have announced progress over the past two months.

But faced with big losses, investors are showing little appetite to buy any more bonds, raising questions about how developers will be able to refinance their offshore debt or pay back maturing bonds as the Chinese mainland property market enters a new era of low growth.