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Evergrande Is ‘Living Dead’ Despite Coupon Payment, Analyst Says

  • Stock gained as much as 7.8% in Hong Kong, most in three weeks
  • Evergrande’s debt woes will remain until next year: analysts
The China Evergrande Centre in Hong Kong.

The China Evergrande Centre in Hong Kong.

Photographer: Lam Yik/Bloomberg

China Evergrande Group’s payment of interest on a dollar bond is positive news for debt holders, but uncertainties remain on whether the distressed developer can secure cash for looming repayments, according to analysts.

Shares of the firm advanced as much as 7.8% in Hong Kong after the developer wired $83.5 million in a bond coupon payment ahead of this weekend’s deadline. Still, Evergrande needs to pay interest on another four dollar notes this year and has a hefty wall of maturing debt next year.