财新英文

Drowning in Debt, Property Developer Tahoe Defaults Again

2020年07月08日 21:10

T中

Company now has overdue borrowings of 27.1 billion yuan, plans talks with bondholders over debt restructuring

Debt-laden luxury villa developer Tahoe Group Co. Ltd. failed to repay a 1.5 billion yuan ($214 million) bond that matured on Monday, taking its total overdue borrowings to 27.1 billion yuan. The default underscores the growing financial stress on cash-strapped home builders hit by the double whammy of a slowing economy and the fallout from the coronavirus pandemic.

版面编辑：喻竹杨洋

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