HONG KONG – China SCE Group said on Wednesday a non-payment on a syndicated loan has triggered an event of default under its dollar bonds and it would explore a holistic solution to all its debt.
The Xiamen-based company is the latest to join a long list of Chinese property developers who have defaulted their offshore debt and begun a restructuring process. Only a handful have announced restructuring terms so far.
SCE said in a filing it will suspend trading in its four dollar bonds worth a total of $1.8 billion from Thursday. “The group’s liquid cash and bank…
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