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.
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
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