debt crisis Tag

20 Mar China Vanke secures US$194 million loan from Industrial Bank in brief respite for troubled property developer

Posted at 02:03h in Asia

Heavily indebted China Vanke, one of China’s largest developers, said it has secured a long-term loan from a Chinese commercial bank, providing it some relief following its credit rating downgrade a week ago by Moody’s to junk status.The Shenzhen-based developer said in a statement filed...

15 Feb Chinese property developer CIFI to offload Australian assets at a loss in bid to inject cash as credit dries up

Posted at 06:00h in Asia

CIFI Holdings has agreed to sell a 60 per cent stake in 16 parcels of land in Sydney to an Australian company for A$66.3 million (US$42.9 million), booking an estimated loss of A$11.1 million in the process, the distressed Chinese developer said.This is the third...

debt crisis Tag

20 Mar China Vanke secures US$194 million loan from Industrial Bank in brief respite for troubled property developer

15 Feb Chinese property developer CIFI to offload Australian assets at a loss in bid to inject cash as credit dries up

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