Chinese developer R&F Properties missed interest payments on three offshore notes in another sign of escalating troubles for the country’s home builders amid a gruelling property market downturn.
The developer failed to pay interest on three dollar-denominated notes issued by its subsidiary Easy Tactic, which was due on July 11, it said in a filing to the Hong Kong stock exchange on Sunday. The three bonds have US$4.53 billion in total face amount outstanding.
Source: TRADE FINANCE
