China Developers Account for About Half of World’s Troubled Debt

(Bloomberg) — In a world where central bank stimulus has wiped out most of the distress from global bond markets, the troubles of China’s property companies are standing out.Most Read from BloombergOf the $139 billion of U.S. dollar-denominated bonds trading at distressed prices, 46% were issued by companies in China’s real estate sector, according to data compiled by Bloomberg on Oct. 12, which captured bonds trading at yield premiums of at least 10 percentage points above their benchmark rates.Junk-rated dollar bonds from Chinese issuers have reached yields not seen in about a decade following months of weakness on concerns about rising debt-repayment pressure for developers and the sector’s increasing number of defaults.The strains have been fueled by the troubles of industry giant …

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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