Chinese property developer Ronshine China Holdings has not made interest payments on its June 2023 and December 2023 notes, totalling $27.9 million, in the latest blow to China’s embattled property market, reports Reuters.
Ronshine has not made payment of $12.798 million interest on the 8.1% senior notes due June 2023, which became due and payable on June 9 and has a 30-day grace period to pay such interest, it said in a HKEx filing late on Sunday.
The company also said it has not made payment of $15.07 million interest on the 7.35% senior notes due December 2023, which became due and payable on June 15 and has a 30-day grace period to pay the interest.