PBOC Vows to Ensure ‘Healthy’ Property Market: Evergrande Update
- Developer has $45.2 million coupon on 2024 note due Wednesday
- Evergrande to sell Shengjing Bank shares for 10 billion yuan
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China Evergrande Group is facing a fresh dollar bond interest payment test Wednesday, less than a week after it missed an initial deadline to deliver the coupon on another offshore note.
The developer’s list of debt obligations may be getting even longer, after some holders maintained it’s a guarantor of a separate $260 million bond that matures Sunday. The investors are forming a committee to press their claims in case the note, which was issued by a joint venture of the company’s key onshore unit, goes into default.