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China debt crunch

Chinese developer R&F warns investors over bond repayment offers

Debt-strapped company says may not have cash to make good on partial payback

Citigroup analysts estimate Guangzhou R&F sold 8 billion yuan worth of homes last month, 66% less than a year before.   © Reuters
KENJI KAWASE, Nikkei Asia chief business news correspondent | China

HONG KONG -- Chinese developer Guangzhou R&F Properties has warned investors that it may not have enough cash to make good on deals it offered them to settle a $725 million bond maturing next Thursday.

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