China's 3rd-largest property developer by sales failed to make $29mn coupon payment

Sunac is China's 3rd-largest property developer by sales

• said it failed to make $29.5 mn coupon payments on $750 mln offshore bond before a month-long grace period ended
• the interest payments on the October 2023 bond had been due on April 11
• expects it will not make payments on other bonds coming due

From the company statement to the Hong Kong  stock exchange  Stock Exchange A stock exchange, or securities exchange is defined as a facility where stockbrokers and traders can buy and sell securities.This includes shares of company stocks, bonds, exchange-traded funds (ETFs), or other financial instruments. Stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events. This commonly includes the payment of income and dividendsStock exchanges have developed into a permanent fixture in the financial market and some of the most visible entities in the entire industry. The largest stock exchanges in the world are the New York Stock Exchange (NYSE), NASDAQ, Tokyo Stock Exchange, Hong Kong Stock Exchange, London Stock Exchange, EURONEXT, and Shenzhen Stock Exchange. Stock exchanges are among some of the most recognizable constructs in the global financial system and provide a variety of utility to specific markets. Why Stock Exchanges Matter?Stock exchanges are also responsible for initial public offerings (IPOs) of company stocks and bonds to investors. This is performed in both the primary market and subsequent trading in the secondary market.It is important to note that not every company or entity can be included on a stock exchange. To be able to trade a security on a certain exchange requires the listing of specific securities. Trading on an exchange is restricted to certified brokers who are members of the exchange. The traditional image of crowded trading floors has waned in recent years to include various other trading venues.This includes electronic communication networks, alternative trading systems and "dark pools" which have ultimately seen the migration of trading activity away from traditional stock exchanges. A stock exchange, or securities exchange is defined as a facility where stockbrokers and traders can buy and sell securities.This includes shares of company stocks, bonds, exchange-traded funds (ETFs), or other financial instruments. Stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events. This commonly includes the payment of income and dividendsStock exchanges have developed into a permanent fixture in the financial market and some of the most visible entities in the entire industry. The largest stock exchanges in the world are the New York Stock Exchange (NYSE), NASDAQ, Tokyo Stock Exchange, Hong Kong Stock Exchange, London Stock Exchange, EURONEXT, and Shenzhen Stock Exchange. Stock exchanges are among some of the most recognizable constructs in the global financial system and provide a variety of utility to specific markets. Why Stock Exchanges Matter?Stock exchanges are also responsible for initial public offerings (IPOs) of company stocks and bonds to investors. This is performed in both the primary market and subsequent trading in the secondary market.It is important to note that not every company or entity can be included on a stock exchange. To be able to trade a security on a certain exchange requires the listing of specific securities. Trading on an exchange is restricted to certified brokers who are members of the exchange. The traditional image of crowded trading floors has waned in recent years to include various other trading venues.This includes electronic communication networks, alternative trading systems and "dark pools" which have ultimately seen the migration of trading activity away from traditional stock exchanges. Read this Term:

• "The Group's contracted sales have continued to decline significantly, while access to new financing has become increasingly difficult with more  liquidity  Liquidity Liquidity refers to the extent of a financial instrument’s ability to be bought or sold without causing price fluctuations. Thus, if an asset is extremely liquid, it means one can trade that asset in the knowledge that one’s specific dealing won’t create significant movements in the market.This is because there exists such a large number of traders going both long and short, generating huge volume for that particular asset. Liquidity in the FX MarketTake the example of the foreign exchange market – it is the world’s most liquid market, since numerous banks, hedge funds and individual traders partake in the buying and selling of vast cumulative amounts currencies every single day. In fact, over $5 trillion is exchanged daily, as mentioned by the Bank of International Settlements. If a trader wants to go long on the currency pair EUR/USD, they will have no trouble in finding traders wanting to go the opposite way, due to such ample liquidity.  The EUR/USD is the world’s most liquid trading instrument, in any market. It is extremely easily bought or sold, with an immense quantity of trading activity for the pair.  Liquidity reflects the quantity and the frequency of the asset that’s being traded, i.e. the more an asset is traded, the more liquid that asset is, making it virtually effortless for the asset to be bought and sold.Likewise, the less an asset is traded, generally the less liquid the asset is, making it more difficult for that asset to be bought or sold. It goes without saying that liquidity is one of the key attributes a trader looks for, when deciding on whether to pursue trading an instrument, since it tells the trader how stable a market is despite masses of trades being undertaken. This is exactly why the forex market is so enticing, since its liquid environment allows massive trading volumes to occur without much effect on the currency pairs’ exchange rates. Liquidity refers to the extent of a financial instrument’s ability to be bought or sold without causing price fluctuations. Thus, if an asset is extremely liquid, it means one can trade that asset in the knowledge that one’s specific dealing won’t create significant movements in the market.This is because there exists such a large number of traders going both long and short, generating huge volume for that particular asset. Liquidity in the FX MarketTake the example of the foreign exchange market – it is the world’s most liquid market, since numerous banks, hedge funds and individual traders partake in the buying and selling of vast cumulative amounts currencies every single day. In fact, over $5 trillion is exchanged daily, as mentioned by the Bank of International Settlements. If a trader wants to go long on the currency pair EUR/USD, they will have no trouble in finding traders wanting to go the opposite way, due to such ample liquidity.  The EUR/USD is the world’s most liquid trading instrument, in any market. It is extremely easily bought or sold, with an immense quantity of trading activity for the pair.  Liquidity reflects the quantity and the frequency of the asset that’s being traded, i.e. the more an asset is traded, the more liquid that asset is, making it virtually effortless for the asset to be bought and sold.Likewise, the less an asset is traded, generally the less liquid the asset is, making it more difficult for that asset to be bought or sold. It goes without saying that liquidity is one of the key attributes a trader looks for, when deciding on whether to pursue trading an instrument, since it tells the trader how stable a market is despite masses of trades being undertaken. This is exactly why the forex market is so enticing, since its liquid environment allows massive trading volumes to occur without much effect on the currency pairs’ exchange rates. Read this Term issues occurring among certain property developers"
• "The Company does not expect that it will make payments under the abovementioned notes and other senior notes issued by it when they become due or within the relevant grace periods"