HONG KONG, Oct 20 (Reuters) - More debt defaults are likely to emerge in China's property sector as troubled developers struggle with a weak home sales outlook, while fund raising remains challenging, according to credit analysts.
Counting October, there is a total of $60.5 billion worth of Chinese property bonds due in the next 6 months, with offshore bonds taking up at least one third of it, according to Dealogic data.
The company said it was also prepared to formulate a reasonable debt repayment plan if it fails to repay bonds as they are due.
Ricky Tsang, an analyst with S&P Global Ratings, said apart from the weak cash flow from home sales, fund raising for developers, particularly the private ones, remains tight.
Reporting by Xie Yu in Hong Kong, Editing by Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.
Persons:
Ting Meng, Ricky Tsang, Tsang, Xie Yu, Raju Gopalakrishnan
Organizations:
HK, Ocean Group, Hong Kong Exchange, Dalian Wanda Group, Bloomberg, ANZ Bank China, Developers, Thomson
Locations:
HONG KONG, China, State, HK, Hong Kong