China’s second-largest developer Country Garden with annual revenues of more than $70 billion, is on the verge of collapse.
The company’s 8% bonds due in 2024 are trading at a paltry 9 cents, signalling massive losses for the bondholders. The yield is skyrocketing, meaning nobody expects it to be paid.
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China’s second-largest developer Country Garden with annual revenues of more than $70 billion, is on the verge of collapse.
The company’s 8% bonds due in 2024 are trading at a paltry 9 cents, signalling massive losses for the bondholders. The yield is skyrocketing, meaning nobody expects it to be paid.
China’s property meltdown continues 🔥🔥🔥