Offshore defaults by Chinese developers have hit $11.8bn YTD after Kaisa and Evergrande missed their bond payments earlier this month. Bloomberg reports that the offshore sum includes 24 USD and 4 EUR-denominated bonds. The year had popular names like Tsinghua Unigroup defaulting on about $2bn in bonds in January, CFLD’s $530mn default at the end of February, Fantasia’s $205.656mn default in October, Evergrande’s $82.5mn in missed coupons and Kaisa’s $400mn bond default in December. Meanwhile, Bloomberg adds that onshore defaults have hit a record RMB 182.8bn ($28.7bn) including 39 private and 99 public offerings.

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