Markets Await Outcome for Opaque Bond Tied to Evergrande
- Note said to be guaranteed by Evergrande came due Sunday
- Evergrande, property management unit shares halted Monday
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China Evergrande Group has already fallen behind on payments to banks, suppliers and holders of onshore investment products, and hasn’t given any indication that it paid two recent dollar bond coupons.
Now the world’s most indebted developer may be facing its next big debt test, underscoring the broader risks of opaque obligations in credit markets already on edge. Shares in China Evergrande Group and its property management unit were suspended from trading in Hong Kong Monday with no reason given.