Buyers of distressed loans eye China developers as debt rises
Number of publicly traded developers with liabilities above equity up to 136 out of 334, from 57 in 2007, Bloomberg data shows
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BUYERS of distressed loans are watching China's property market closely as debt soars and growth falters.
Nomura Holdings Inc and Bank of America Corp say they'll pay more attention to Chinese developers in 2015, having profited from trades in India, Australia, Korea and Indonesia. "There's been a lot of nervousness around the real estate sector in China," Andrew Tan, Nomura's head of secondary trading for loans and special situations in Asia ex-Japan, said by phone last Wednesday. "We've seen some sell-off in terms of some of the bigger names in the loan space which, typically, you don't see being offered in the market. They are at high yield, stressed levels."
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