Evergrande Gets Loan Payment Demands From Trusts; Bonds Fall
- Developer’s bonds are tumbling as default concerns intensify
- Billionaire founder has pledged to deliver on housing projects
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At least two of China Evergrande Group’s largest non-bank creditors have demanded immediate repayment of some loans, according to people familiar with the matter, adding to liquidity strains at the world’s most indebted developer.
The two creditors are trust companies, which pool money from wealthy individual investors and are a major source of financing for Evergrande and other Chinese developers.