Some bondholders of Road King have not received coupon payments, records show

Reuters

Aug 13

HONG KONG, Aug 13 (Reuters) - Some bondholders of Road King Infrastructure 1098.HK have not received their payments for a coupon totalling $11.3 million after a 30-day grace period expired on Tuesday, records from an investment platform of clients holding the notes show.

The failure to make payment would mark the first bond default by a Hong Kong property developer since China's real estate debt crisis began in 2021.

Road King, a small developer which earns the majority of its revenues from mainland China, said in an announcement on Friday that it had not made payment on the July 12 due date for its 2029 bond, but it had a grace period, which expired on Tuesday.

The company did not respond to requests for comment.

(Reporting by Clare Jim; Editing by Jacqueline Wong)

((clare.jim@thomsonreuters.com;))

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