China's small and weak developers may be hurt by 250b yuan bond puts
Shanghai
CHINESE property developers face a wall of local bonds that investors can force them to pay off next year ahead of schedule, just as rising interest rates raise the risk that more note holders may opt to do so.
Investors have an option to offload 250 billion yuan (S$51 billion) of such notes in 2018, according to Bloomberg data. To put some perspective on that amount, it's five times all their regularly maturing onshore bond principal this year.
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