The Chinese real estate development giant China Evergrande seems to have missed another debt repayment period, as according to Bloomberg, there are no indications of payment of two dollar bond coupons that expired yesterday, Tuesday. It is noted that both bonds have a grace period of 30 days.
It is a $ 204.8 million bond with a coupon of 8.75% and a second bond of $ 50.4 million with a coupon of 7.5%, according to the agency.
The Evergrande, in the midst of its financial problems, has turned its attention to the delivery of housing and the payment of employees even when debt payments are approaching.
The company went into “selective bankruptcy” by two rating agencies earlier this month when it defaulted on a dollar-denominated bond for the first time. S&P Global Ratings.
However, according to the Bloomberg agency, based on a newsletter of which it became aware, a payment agency and a transfer agency for both of the above bonds is the London branch of Citibank, adding that Tuesday was a holiday in the United Kingdom.
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Source From: Capital
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