EGRNF - China Evergrande staves off default on dollar bonds again - WSJ

China Evergrande (OTCPK:EGRNF) (OTCPK:EGRNY) makes a late payment on another dollar bond, buying itself time to work with creditors and try to restructure its debt. The debt-laden Chinese property developer, which owed $45M of interest on $951M of bonds due in 2024, made a coupon payment that was originally due on Sept. 29, the Wall Street Journal reported, citing people familiar with the matter. That comes after the company made a $83.5M payment, also within the 31-day grace period of other bonds, last week. The late payments means Evergrande (OTCPK:EGRNF) has averted defaulting on the bonds. The company has been trying to raise capital through sales of shareholdings and an office building in Hong Kong. A $2.6 deal to sell most of its stake in its property services business fell apart last week. China's real estate developers have run into cash flow problems as new home sales slowed when regulators

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China Evergrande staves off default on dollar bonds again - WSJ