Evergrande Bond Bills Are Piling Up as Latest Coupon Comes Due
- Developer has $45.2 million in interest due Sept. 29 on note
- Contagion fears send junk bond yields to highest in decade
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China Evergrande Group is facing another bond interest payment after giving no sign that it had paid a separate one last week, as its deepening debt crisis looms over global markets.
The world’s most indebted developer needs to pay a $45.2 million coupon on Wednesday for a dollar bond that matures 2024, Bloomberg-compiled data show. The payment has a 30-day grace period before default could be declared, according to the note’s offering memorandum.