Evergrande unit to meet bond payments Bloomberg News Sep 22,...

Evergrande unit to meet bond payments
Bloomberg News
Sep 22, 2021 – 12.03pm
Save
Share
Hong Kong | China Evergrande Group’s onshore property unit said it negotiated a plan with bondholders to repay interest due on September 23 on domestic notes, without clarifying the terms of the arrangement.

The company will make the interest payment for its 5.8 per cent 2025 bond, according to an exchange filing. The amount due for the coupon was RmB232 million ($49.5 million), according to data compiled by Bloomberg.


Evergrande’s fallout is infecting global markets. Bloomberg

Global financial markets were stung in recent days as concerns intensified that the crisis at the world’s most indebted developer could derail the economy and spark sustained contagion. While there have been signs of resilience in China’s own debt markets, the stress has spilled over to global credit and shaken equities.

Chinese authorities have begun to lay the groundwork for a potential restructuring that could be one of the country’s biggest, assembling accounting and legal experts to examine the finances of the group. Evergrande missed interest payments due on Monday to at least two of its largest bank creditors, people familiar said.