What next as Evergrande misses second coupon payment?
Investors have turned bearish on Evergrande and, in some cases, Chinese high-yield. But many believe Beijing will support an organised restructuring of the firm to prevent its complete collapse.
China Evergrande Group, one of China's largest real estate developers, has been on the brink of defaulting on its debts, and bondholder fears seem to be coming true as the group missed its second offshore coupon payment in as many weeks.
Some offshore bondholders reportedly did not receive a coupon payment due on Wednesday (September 29). The group was due to make a $47.5 million bond interest payment on a 9.5% March 2024 dollar bond.
Evergrande had also missed an $83.5 million…
Please sign in or register
for free access to 1 article per month from AsianInvestor’s content and archives of over 16,000 articles.
¬ Haymarket Media Limited. All rights reserved.