Chinese property developer Landsea Green Management defaulted on $96.1m US dollar notes due to slow sales and liquidity issues.
Chinese property developer Landsea Green Management failed to redeem some US dollar notes due to slow sales and liquidity issues. The company, struggling alongside other Chinese developers due to falling property values, is discussing possible actions, including accelerating repayments of the debt. The defaulted notes, issued in 2022, have a principal amount of $96.1m with an annual interest rate of 10.75%.
April 21, 2024
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