Property developer Modern Land (China) on Monday asked its debt holders for a three-month extension on a US$250 million bond set to come due later this month to avoid a potential default, as concerns continue to swirl around the embattled China Evergrande Group and the Chinese property sector’s debt levels.The Beijing-based builder said it was seeking bondholder approval to extend the maturity of its 12.85 per cent senior notes from October 25 to January 25 and to repay US$87.5 million of the…
Source : South China Morning Post
Read more…Evergrande crisis: developer Modern Land (China) seeks debt extension, to repay US.5 million early
