Chinese property developer Sinic Holdings Co Ltd said on Wednesday it is likely to default on notes worth US$250 million due next month, which could trigger the terms where its payments become due for all its public bonds.
Slowdown in sales and a liquidity crunch in China have pushed several indebted firms in the high-yielding sector like Kaisa Group Holdings and China Evergrande Group to the brink, whose fate has roiled financial markets in recent months.
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