Evergrande Makes Interest Payment To Avoid Catastrophic Default
According to sources close to the matter, China Evergrande Group (HKG:3333) has made an interest payment for an offshore bond before a grace period expired on Friday. The transaction means the doomed developer has barely avoided a second disastrous default in a week. Q3 2021 hedge fund letters, conferences and more Evergrande PaymentAccording to Reuters, had Evergrande not paid on the Friday deadline, cross-defaults on all of the company's $19 billion worth of bonds in international capital markets would have ensued, in what would have been the world's second-largest emerging market corporate ...