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Evergrande’s Global Bondholders Didn’t Receive Interest Payment

Hamartia Antidote

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Global investors who own China Evergrande Group ’s U.S. dollar bonds hadn’t received an interest payment from the property giant by Thursday’s deadline, said people familiar with the matter.

Evergrande was on the hook to make $83.5 million in coupon payments by Sept. 23 on dollar bonds with a face value of $2.03 billion. The company could make the payments belatedly and it has a 30-day grace period before bondholders can call a default.
 

Mentee

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Evergrande's default may cause an adverse dominoes effect for the global economy
 

Nan Yang

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No one posting Evergrande news for almost a month. Quiet all of a sudden. :meeting:

China Evergrande is said to make another bond payment, avoiding default for a second time.

A China Evergrande construction site in Dongguan in September.

A China Evergrande construction site in Dongguan in September.Credit...Gilles Sabrié for The New York Times
By Lauren Hirsch
  • Oct. 28, 2021
China Evergrande, the troubled property giant, made another debt payment ahead of a Friday deadline, averting default for the second time in two weeks, according to one of the company’s bondholders.

The company made an interest payment that had been due on Sept. 29, this person said, speaking on condition of anonymity to discuss the matter. Evergrande had a 30-day grace period on the bond payment; the extension was to end on Friday.
The company didn’t immediately respond to a request for comment on the payment.

The payment comes a week after the world’s most indebted property developer narrowly avoided defaulting on another bond. Evergrande made an $83.5 million interest payment to bondholders last Friday, according to Securities Times, an official newspaper. That payment likewise came just a day ahead of a default. The interest payment due this Friday totaled $45.2 million.
Weighed down by more than $300 billion of debt, Evergrande has been trying to sell off parts of its vast empire to raise enough cash to pay off creditors. Last week, one of those deals — largely seen as a last-ditch lifeline — fell through.


 

Viet

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No one posting Evergrande news for almost a month. Quiet all of a sudden. :meeting:

China Evergrande is said to make another bond payment, avoiding default for a second time.

A China Evergrande construction site in Dongguan in September.

A China Evergrande construction site in Dongguan in September.Credit...Gilles Sabrié for The New York Times
By Lauren Hirsch
  • Oct. 28, 2021
China Evergrande, the troubled property giant, made another debt payment ahead of a Friday deadline, averting default for the second time in two weeks, according to one of the company’s bondholders.

The company made an interest payment that had been due on Sept. 29, this person said, speaking on condition of anonymity to discuss the matter. Evergrande had a 30-day grace period on the bond payment; the extension was to end on Friday.
The company didn’t immediately respond to a request for comment on the payment.

The payment comes a week after the world’s most indebted property developer narrowly avoided defaulting on another bond. Evergrande made an $83.5 million interest payment to bondholders last Friday, according to Securities Times, an official newspaper. That payment likewise came just a day ahead of a default. The interest payment due this Friday totaled $45.2 million.
Weighed down by more than $300 billion of debt, Evergrande has been trying to sell off parts of its vast empire to raise enough cash to pay off creditors. Last week, one of those deals — largely seen as a last-ditch lifeline — fell through.


Ccp forced the boss Hui to pay the debts.
Hui has the choice, either he pays out with his private money or ends in concentration camp.
 

tower9

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Ccp forced the boss Hui to pay the debts.
Hui has the choice, either he pays out with his private money or ends in concentration camp.
That’s what should’ve happened to the wall street fat cats but instead they were rewarded for the evil they caused.
 

nang2

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It's interesting. Chinese people expect Evergrande to die, and Americans also expect Evergrande to die.
Today, DMSA is preparing bankruptcy proceedings against Evergrande Group since Evergrande missed the interest payment deadline after 30-day grace period, which means Evergrande officially defaulted. The news says "As soon as a court opens insolvency proceedings, Evergrande will also be officially bankrupt - and that is only a matter of days." Let's see how things evolve.
 

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