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Sunac Deadline Looms; Country Garden Plunges: Evergrande Update

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China’s fourth-largest developer by sales is approaching a possible default as the sector’s liquidity crisis shows no sign of easing despite government vows of support. Meanwhile, Country Garden Holdings Co.’s dollar bonds were poised for their biggest drops in two months.

Sunac China Holdings Ltd.’s grace period to make a dollar-bond interest payment ends Wednesday, according to data compiled by Bloomberg. Failure to do so could trigger cross-default on other offshore debt, the bond’s prospectus shows.