Guangzhou R&F Seeks ‘Holistic’ Solution After Missing Bond Payment

(Bloomberg) — Guangzhou R&F Properties Co. Ltd. is considering a “holistic” solution for its offshore debt after missing $147 million of coupon payments on already-extended dollar notes, underscoring the deepening liquidity crisis in China’s property sector.

The subsidiary, Easy Tactic Ltd., failed to pay within a 30-day grace period, according to a company statement Sunday. The three dollar bonds in question are due in 2025, 2027 and 2028, with about $4.5 billion of total principals remaining. The non-payment may drive bondholders to demand accelerated repayment, the statement said.