Chinese developer Shimao’s dollar notes fall as trust payment is missed

Economy 02/24/22, 17:00

According to Bloomberg, Shimao's dollar notes declined Thursday as the Chinese property developer's failure to make some trust payments, and its credit rating downgraded. Shimao's 4.75% notes due on July 3 lost 8.3 cents on the dollar to 56 cents.Last week, Shimao Group failed to negotiate an agreement to extend repayments ...

Worse than Evergrande: High-ranking developer Shimao plunges into crisis

China 12/18/21, 15:42

A company with more significant problems than Evergrande has come to the forefront. Media outlets quoted industry insiders saying that the Shanghai Shimao Group's crisis was worse than Evergrande's default. According to Bloomberg, although Shimao Group's balance sheet is less than one-third of Evergrande and its sales rank only at 13th among Chinese ...

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