Chinese developer CIFI struggles after raising funds with government help

HONG KONG—Even a government bond guarantee was not enough to prevent a crisis of confidence at one of China’s property developers, which this week struggled to convince investors it can service its debt .

Earlier this month, CIFI Holdings (Group) Co. one of the country’s top 20 promoters by contract sales, issued $167 million worth of new yuan-denominated bonds that were insured against default by a government-backed entity. He was one of a select group of six property companies to participate in a pilot program designed to help private sector developers raise funds and give investors confidence that they would get their money back.


Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.
Back to top button