China Property Firms Face Raft of Key Payments This Week
- Deadlines are mounting for firms in embattled sector
- Evergrande seeking to avoid first default on an onshore bond
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Investors are bracing for a fresh wave of volatility in China’s credit markets this week, as a barrage of payment deadlines loom for some of the property sector’s most distressed firms.
China Evergrande Group is seeking to avoid its first default on an onshore bond when holders vote on whether to allow the firm to defer payment Thursday. Meanwhile, Shimao Group Holdings Ltd. -- which was rated investment grade only two months ago -- and one of its onshore units also need to service some $376 million in upcoming bond payments this week.