![]() ![]() Last month, the developer appeared to have missed the deadline for a $47.5 million interest payment on another offshore bond. The company’s stock jumped 4.3% in Hong Kong on Friday, while shares of its property management and electric vehicle units also surged about 4% each.Īccording to Jeffrey Halley, senior market analyst of Asia Pacific at Oanda, a failure to make the bond payment this weekend could have allowed some of Evergrande’s other creditors to demand their money back, adding further strain on the company.īut while Evergrande appears to have settled one of its debts, it is not out of the woods. (Photo by Hector RETAMAL / AFP) (Photo by HECTOR RETAMAL/AFP via Getty Images) Hector Retamal/AFP/Getty ImagesĮvergrande says a $2.6 billion deal has collapsed as payment deadline looms Previously, Evergrande had worked to clear some tabs with domestic lenders while staying silent on its debts to international investors, a sign that its priority was to pay back Chinese investors first.Ī general view shows the Evergrande Center building in Shanghai on October 9, 2021. It also suggests that the company is taking some effort to appease offshore investors. The news provided some relief to investors and analysts who had once again worried this week that the company, which continues to teeter on the brink of collapse, would slip into its first formal default. ![]() State-run financial newspaper Securities Times reported Friday that the embattled property conglomerate had made an $83.5 million interest payment on a dollar-denominated bond that was due last month.Ī 30-day grace period for that payment is set to expire on Saturday, but Reuters reported, citing an unidentified source, that Evergrande has wired the funds and bondholders should receive it before that deadline.Įvergrande did not immediately respond to a request for comment. Evergrande has made a crucial payment that allows it to stay out of default, at least for now, according to Chinese state media. ![]()
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