Some Evergrande offshore bondholders not paid by Wednesday deadline Asia time – sources

Above Article Content Ad

Chinese language flags are seen close to the brand of the China Evergrande Group on the Evergrande Heart in Shanghai, China, September 24, 2021. REUTERS/Aly Music/File Picture

HONG KONG, Sept 29 (Reuters) – A few of China Evergrande Group’s offshore bondholders had not obtained curiosity fee by the shut of Asia enterprise hours on Wednesday, three folks accustomed to the matter advised Reuters, lacking its second greenback debt obligation this month.

The cash-strapped firm was due on Wednesday to make a $47.5 million bond curiosity fee on its 9.5% March 2024 greenback bond. It had missed paying $83.5 million in coupon final Thursday.

Evergrande’s silence on its offshore fee obligations has left international buyers questioning in the event that they should swallow massive losses when 30-day grace durations finish for coupon funds due on Sept. 23 and Sept. 29.

Two of the sources stated they’ve had no data from the corporate concerning the fee on Wednesday. The sources couldn’t be named as they weren’t authorised to talk to the media as a consequence of sensitivity of the matter.

A spokesperson for Evergrande didn’t have any quick remark. Reuters was unable to find out whether or not Evergrande has advised bondholders what it plans to do relating to the coupon fee due on Wednesday.

Reporting by Andrew Galbraith in Shanghai, Anshuman Daga in Singapore and Tom Arnold in London; Enhancing by Sumeet Chatterjee and Louise Heavens


Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button