The selloff in China's property-bond market and a string of defaults have hammered prices for many dollar-denominated green bonds issued by developers
, developers had rushed to issue green bonds, making them among the most prolific corporate issuers in this fast-growing corner of global finance.
But the selloff in China’s property-bond market in recent months, and a string of defaults, have hammered prices for many of these dollar-denominated green or sustainable bonds, which finance environmentally friendly or social projects. Creditors have suffered hefty losses. Several of the securities now trade at less than 30 cents on the dollar, indicating deep skepticism among investors that they will get back anything close to the original value.
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