CGMBF - China Evergrande misses interest payment on dollar bond - Reuters

As expected, China Evergrande (OTCPK:EGRNF) (OTCPK:EGRNY) let a deadline pass Thursday without paying $83.5M of interest due on a dollar bond, fueling fears that the Chinese property developer will let overseas investors absorb losses, Reuters reports. Evergrande, with $305B of liabilities, is suffering a liquidity crisis and investors fear that the property developer's collapse could damage China's financial system and spill over into other parts of the globe. In addition to not paying the interest due, the company hasn't communicated with bondholders on its plans, two people familiar with the situation told Reuters. If Evergrande (OTCPK:EGRNF) (OTCPK:EGRNY) doesn't pay in a 30-day grace period, it will be in default. Earlier this week, the company resolved a coupon payment on a domestic bond. But it has an interest payment of $47.5M due on Sept. 29 for another dollar bond. "These are periods of eerie silence as no-one wants to take massive risks at

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China Evergrande misses interest payment on dollar bond - Reuters