China Evergrande Group’s liquidity crunch is stoking concerns other developers may also feel the squeeze from higher borrowing costs as lenders turned more cautious about the nation’s weakest borrowers.The effective yield on bonds sold by Chinese junk-rated companies, a measure of funding cost, jumped last week to 15.8 per cent, according to an index compiled by Intercontinental Exchange, up from 10.5 per cent on June 30. The 226 bonds in the index, dominated by property names, have lost 7.4…
Source : South China Morning Post
Read more…As Evergrande totters, cracks in stressed Chinese developers widen as rating outlook dims and borrowing costs jump
