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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
Bloomberg business news

WATCH: China Evergrande Faces Biggest Payment Test Yet

Source: Bloomberg

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.