Chinese language property developer Shimao defaults on $1 billion bond

HONG KONG, July 3 (Reuters) – Chinese property developer Shimao Group (0813.HK) missed interest and principal payments on a $1 billion offshore bond due on Sunday, in the latest blow to China’s troubled property market. The default is the first offshore payment missed for the Shanghai-based developer. With $6.1 billion worth of international bonds, Shimao … Read more