And another real estate firm, Modern Land, is seeking to delay repayment on a dollar bond in a bid to avoid a default as Evergrande’s struggles continue
Property bonds sink after Modern Land asks to delay maturity on bond due this month. Holders of offshore Evergrande bonds also await news on $148m in payments after missed Sept deadlines.
Sinic Holdings became the latest developer to be downgraded, while homebuilder Fantasia Holdings' dollar bonds lost nearly half their market value in a selloff on Monday.
Many of China's biggest property firms, including the country's second largest, China Evergrande, have seen their bonds plunge amid worries they face collapse