Source: China – South China Morning PostRoad King Infrastructure suspended US$22.6 million in interest payments and will defer distributions of US$56.5 million on perpetual securities, making it the first Hong Kong-based developer to default on bond payments since China’s property crisis began in 2021.
The firm failed to win enough creditor consent for debt amendments aimed at easing short-term cash strain and missed interest payments on two notes due in July, it said in a filing with the Hong Kong stock exchange on Thursday. The…Read More