China property developer woes have not fallen off the radar. Bloomberg (gated) with an update:
- China’s fourth-largest developer by sales is approaching a possible default
- the sector’s liquidity crisis shows no sign of easing despite government vows of suppor
- Some of Country Garden Holdings Co.’s dollar bonds were poised for their biggest drops in two months.
- Sunac China Holdings Ltd.’s grace period to make a dollar-bond interest payment ends Wednesday,
- Failure to do so could trigger cross-default on other offshore debt, the bond’s prospectus shows.
