Bond Deadline Looms; Hui’s Megayacht in Focus: Evergrande Update
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A unit of China Evergrande Group faces a key deadline for a coupon payment Saturday, while bondholders eye the personal assets of the company’s founder -- including a megayacht in Hong Kong -- to weigh his ability to meet some of the liabilities.
Evergrande’s Scenery Journey Ltd. has $82.5 million in coupons coming due on two dollar bonds. Next Wednesday, the grace period expires for other bond-interest payments owed by the embattled property developer.