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

Published Sep 22 2021 at 11:30 AM GMT
  • 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….



  • Published Sep 22, 2021 11:30 AM GMT