Global investors who own China Evergrande’s U.S. dollar bonds were in the dark about whether the property giant would make a key interest payment
Global investors who own China Evergrande Group ’s U.S. dollar bonds were in the dark Thursday about whether the property giant would make a key interest payment, a major test of the highly indebted developer’s ability to avoid a default.
Evergrande was on the hook to make $83.5 million in coupon payments on Sept. 23 on dollar bonds with a face value of $2.03 billion. As of late afternoon in New York on Thursday, bondholders hadn’t received the money, according to people familiar with the matter.
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