China's housing slump moderated a fraction in December as property developers rolled out promotions and financing conditions eased.
China Evergrande reached a deal with bondholders to delay redemption and coupon payments for a 4.5 billion yuan ($707.52 million) bond
Credit rating agency S&P Global ruled after the firm won approval from lenders to delay a $725m senior unsecured note payment due on Thursday
Shimao and Yuzhou are scrambling to negotiate new terms with creditors to avoid default, while Evergrande secured a crucial payment delay
US investment bank Goldman Sachs estimates high-yields firms have $3.6 billion worth of bonds maturing by the end of the month
Shimao, which defaulted on a trust loan last week, has asked agents since late December to help seek buyers for its properties
Group will seek a six-month delay for coupon payments on a 4.5-billion-yuan ($157m) bond in a meeting with holders this weekend. Trading in Evergrande bonds will be halted from Jan 6.
China's former top selling developer, now struggling with $300 billion in liabilities, has been deemed to be in cross-default by rating agencies
Embattled developer with $19bn of offshore bonds in cross-default faces payments of $255m for its June 2023 and 2025 notes. News it has resumed work on 91% of projects failed to lift its stock.
Chairman Hui Ka Yan vowed on Sunday to deliver 39,000 units of properties in December, but the group looks likely to default on a further $255m of bond payments due today
Evergrande claims it has resumed construction and decoration work at 115 projects, with its chairman vowing to deliver 39,000 completed home units by the end of this year