Payment Deadline Looms Amid Bond Selloff: Evergrande Update
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Another key bond-payment deadline began to loom for China Evergrande Group as the sell-off among the country’s beleaguered property developers deepened.
Evergrande unit Scenery Journey Ltd. has $82.5 million in coupons on two dollar bonds coming due this Saturday. Last week, Evergrande’s bondholders received an overdue interest payment just before the expiration of a grace period, buying the debt-stricken company more time to raise cash from asset sales.