Holders of Evergrande-Linked Jumbo Fortune Bond Yet to Be Paid
- Their next step would be requesting payment from Evergrande
- Nonpayment may trigger cross-default on other Evergrande debt
The China Evergrande Group headquarters in Shenzhen, China.
Photographer: Gilles Sabrie/BloombergThis article is for subscribers only.
Creditors have yet to receive repayment of a dollar bond they say is guaranteed by China Evergrande Group and one of its units, in what could be the firm’s first major miss on maturing notes since regulators urged the developer to avoid a near-term default.
Some investors hadn’t received the principal payment for a note that matured Oct. 3 as of Thursday in Hong Kong, according to people with knowledge of the situation who asked not to be named discussing private matters. As Oct. 3 was a Sunday, the effective due date was Monday. Evergrande did not respond to requests for comment regarding its debt obligations during a holiday in China.