Developers have been selling US dollar bonds, despite property sales having come to a halt due to the shutdown of large parts of China’s economy as a result of the outbreak. Unigroup also faces as much as 8.3 billion yuan (US$1.19 billion) in domestic bond redemptions next month. The company suffered a net loss of 3.2 billion yuan for the first half of last year. It had 165.6 billion yuan in interest-bearing liabilities as of the end of June last year, according to its half-year financial report. The group and its subsidiaries also have a combined 54.6 billion yuan of onshore and offshore bonds outstanding, data compiled by Bloomberg showed.

Source: Taipei Times February 14, 2020 15:56 UTC