Evergrande unit to make $35.9M onshore coupon payment on Sept 23

Fox Business Flash top headlines for September 21

Check out what’s clicking on FoxBusiness.com.

SHANGHAI – China Evergrande Group's main unit said on Wednesday that it would make a bond interest payment on Sept. 23, offering some relief to global markets on edge over a possible default by China's No. 2 property developer.

BEIJING UNLIKELY TO SAVE EVERGRANDE, REPORT SAYS

In a Shenzhen exchange filing, Hengda Real Estate Group Co Ltd said the company would make a coupon payment on its Shenzhen-traded 5.8% September 2025 bond on time on Thursday.

Police officers look at people gathering at the Evergrande headquarters in Shenzhen, southeastern China on September 16, 2021, as the Chinese property giant said it is facing “unprecedented difficulties” but denied rumours that it is about to go unde

The company's coupon payment totals 232 million yuan ($35.88 million), according to Refinitiv data.

CLICK HERE TO READ MORE ON FOX BUSINESS

Evergrande is also due to make an $83.53 million coupon payment on an offshore dollar bond on Thursday. The Shenzhen exchange filing did not mention the offshore bond. ($1 = 6.4655 Chinese yuan)

Source: Read Full Article