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Evergrande: Group apparently missed the deadline for interest payment

2021-12-07T08:42:00.056Z


According to investors, the Chinese real estate company let the grace period for a bond expire. The company had already warned of payment difficulties in advance.


Enlarge image

Evergrande headquarters in Shenzen (archive image)

Photo: via www.imago-images.de / imago images / Kyodo News

Several financiers of the highly indebted Chinese real estate giant Evergrande have recently continued to wait for an interest payment after a grace period has expired.

Two holders of US dollar bonds from Evergrande subsidiary Scenery Journey said they had not received any payment by Tuesday night, New York time, the Bloomberg news agency reported in the morning.

Payment default is feared.

The $ 41.9 million and $ 41.6 million interest on the two bonds were actually due on November 6th.

A grace period of one month had expired on this Monday.

According to Bloomberg, the two bondholders did not want to be named by name.

Evergrande initially did not respond to a request for comment.

Evergrande himself had warned of possible payment difficulties late on Friday evening.

After a budget review, no guarantee can be given that the group will have sufficient funds to meet its financial commitments, it said in a release.

mic / dpa-afx

Source: spiegel

All business articles on 2021-12-07

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