China Evergrande ‘resolves’ interest payment due on smaller of two bonds as it fights to avert debt default

//China Evergrande ‘resolves’ interest payment due on smaller of two bonds as it fights to avert debt default

China Evergrande ‘resolves’ interest payment due on smaller of two bonds as it fights to avert debt default

China Evergrande Group said it has resolved the interest payment due on a yuan-denominated onshore bond, taking an unexpected step that potentially helps avert a default that could spill over to hurt the credibility of the world’s second-largest capital market.The developer’s flagship onshore unit, Hengda Real Estate Group, has “negotiated an off-exchange resolution” that will affect holders of 4 billion yuan (US$618 million) of yuan-denominated notes, Hengda said in a statement to the Shenzhen…

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By | 2021-09-22T11:30:47+00:00 September 22nd, 2021|Business|Comments Off on China Evergrande ‘resolves’ interest payment due on smaller of two bonds as it fights to avert debt default