Shimao Group Faces $2.5 Billion in Bond Payments This Year
- Co. said to also face $1.9 billion in trust payments
- Firm’s dollar bonds are trading at distressed levels
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Chinese developer Shimao Group Holdings Ltd. faces a hefty $2.5 billion in bond obligations coming due this year just as delayed repayments on trust products fuel concern about its capacity to navigate a credit crunch.
That includes $2.2 billion in maturities and nearly $300 million in interest in the securities including local and offshore notes. The bulk of the obligations mature through the third quarter.