Chinese Developer Road King Unexpectedly Suspends Debt Payments

Chinese developer Road King Infrastructure Ltd.is suspending all offshore debt payments, a reversal from a couple of months ago when it said it expected to have enough cash to pay interest on borrowings this year.

The company said it should explore “a holistic solution” to the situation, according to an exchange filing, a term that usually points to a debt restructuring.

The statement came after the developer failed to make interest payments on a $434.7 million bond within a 30-day grace period, something that would typically lead to a default.

Road King in June had proposed changing ...