Some China Evergrande Group bondholders received an overdue interest payment shortly before the expiry of a grace period, buying more time for the debt-stricken property developer as it tries to raise cash through asset sales.
Certain holders of the 9.5% dollar note maturing in 2024 received notification they had been paid on Thursday, according to people with knowledge of the situation, who asked not to be identified discussing private payments. Evergrande skipped an interest payment due Sept. 29, starting the clock on a 30-day grace period before investors could declare a default. It’s the second time this month that the debt-stricken property developer avoided default.
"again" - Google News
October 29, 2021 at 04:30AM
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Evergrande Pays Overdue Interest and Again Dodges Default - Bloomberg
"again" - Google News
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