Chinese Developer Sino-Ocean Suspends Offshore Debt Payments (3)

Chinese state-linked developer Sino-Ocean Group Holding Ltd. has suspended payment on all its offshore borrowings, citing tight liquidity, as the nation’s property debt crisis deepens.

The country’s 25th-largestbuilder “is fully committed to formulating a viable holistic restructuring of its offshore debts,” Sino-Ocean said in a statement to the Hong Kong stock exchange Friday. Trading on the exchange of eight dollar bonds will be suspended until further notice, but prices for some notes were indicated at least 2 cents lower at about 9 cents and on pace for record lows, according to data compiled by Bloomberg.

Beijing-based Sino-Ocean, which according ...