It's a matter of if - not when - China's second-largest property developer by sales defaults on its debt, experts say. The most indebted property developer on earth defied expectations by wiring an $83.5 million interest payment to bondholders of its March 2022 coupon a day before its 30-day grace period expired.īut the company, mired in $300 billion in debt after an aggressive expansion strategy went south, is far from out of the woods.
