Some Evergrande offshore bondholders not paid by Oct 11 deadline Asia time, sources say

The sources could not be named as they were not authorised to speak to the media. Reuters was unable to determine whether Evergrande has told bondholders what it planned to do regarding the coupon payment due on Monday.


Reuters | Hong Kong | Updated: 11-10-2021 16:15 IST | Created: 11-10-2021 16:02 IST
Some Evergrande offshore bondholders not paid by Oct 11 deadline Asia time, sources say
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Some of China Evergrande Group's offshore bondholders have not received interest payment by a Monday deadline Asia time, two people familiar with the matter said, adding to the company's failure to meet dollar debt obligations since last month. Expectations that the cash-strapped company will make $148 million in coupon payments on its April 2022, April 2023 and April 2024 dollar notes due Oct. 11 were slim as it prioritizes onshore creditors.

That has left offshore investors worried about the risk of large losses at the end of 30-day grace periods as what was once China's top-selling property developer wrestles with more than $300 billion in liabilities. A spokesperson for Evergrande did not immediately respond to a request for comment. The sources could not be named as they were not authorized to speak to the media.

Reuters was unable to determine whether Evergrande has told bondholders what it planned to do regarding the coupon payment due on Monday.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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