HONG KONG—Developer Sunac China missed the deadline for coupon payments on a $742 million offshore bond and said on Thursday it does not expect to make payments coming due on other bonds, adding to a wave of defaults in China’s debt-laden property sector.
The company said in a filing to the Hong Kong stock exchange that it has hired Houlihan Lokey as a financial advisor and Sidley Austin as a legal adviser to explore solutions to ease current liquidity constraints.
