Chinese developer Radiance Holdings Group Co. defaulted on a $300m bond due to China's property sector challenges.
Chinese developer Radiance Holdings Group Co. has defaulted on a $300m bond due to extreme pressure in China's property sector and weak sales. This is part of a broader issue for Chinese developers, as home sales and buyer confidence remain weak, potentially leading to further defaults. Radiance's default may negatively affect investor confidence in other cash-strapped developers.
March 21, 2024
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