Evergrande Faces Biggest Payment Test Yet as Grace Periods End
- Developer must pay $148 million in coupons to avert default
- Contagion fears spill over to China’s investment-grade firms
WATCH: China Evergrande Faces Biggest Payment Test Yet
Source: Bloomberg
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China Evergrande Group is facing its biggest payment test since signs of a liquidity crisis emerged at the firm five months ago.
Investors are waiting to see if the embattled developer makes coupon payments totaling $148.1 million for three dollar bonds before the end of 30-day grace periods Wednesday. Evergrande missed the initial interest deadlines last month, Bloomberg-compiled data show.