EGRNY - China Evergrande expected to miss two more coupon payments

China Evergrande (OTCPK:EGRNF -1.4%) (OTCPK:EGRNY +4.2%) is poised to miss two more dollar bond coupon payments today, as the Chinese property developer has already missed some $82.5M in interest payments on offshore bonds in the past two months. The company has $50.4M of interest due on a 7.5% 2023 bond and $204.8M more on an 8.75% 2025 note, according to data compiled by Bloomberg. Evergrande (OTCPK:EGRNF) has a 30-day grace period, which starts on Wednesday, to make the payments before those bonds are declared in default. Fitch Ratings and S&P Global Ratings earlier this month declared the company in default after failing to make the coupon payments. Evergrande (OTCPK:EGRNF), burdened with more than $300B in debt, has been struggling to find cash to service its debt since the Chinese government tightened rules in the real estate sector to limit debt levels and speculation. Previously (Dec. 6), China Evergrande draws up restructuring

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China Evergrande expected to miss two more coupon payments