HONG KONG/SHANGHAI—Modern Land missed a bond payment, the latest Chinese property developer to do so, adding to worries about the wider impact of the debt crisis at behemoth China Evergrande Group, and dragging on shares in the sector.
Modern Land (China) Co., Ltd. said in a filing that it had not repaid principal and interest on its 12.85 percent senior notes that matured on Monday due to “unexpected liquidity issues.” The bond has an outstanding principal of $250 million.
