SCCCF - Some China Evergrande bondholders don't expect interest payment today - Reuters

Some holders don't expect to receive coupon payments on China Evergrande Group's (OTCPK:EGRNF -12.5%) dollar bonds that are due today, Reuters reports, citing a source familiar with the matter. The company has a 30-day grace period before an actual default. The bondholders expect the property developer to give them more information in the coming month, the source told Reuters. The massive Chinese developer also has a $47.5M coupon payment due on Sept. 29 followed by a total of $148.13M coupon payments due on Oct. 12. The highly levered builder ran into trouble when the the Chinese government tightened rules in the real estate sector to tame debt levels and speculation. Evergrande (OTCPK:EGRNF) has over $300B in liabilities. Trading is mixed for Chinese financial and real estate firms with U.S. listings: Country Garden Holdings (OTCPK:CTRYF), Guangzhou R F Properties (OTCPK:GZUHY +3.1%), Sunac China Holdings (OTC:SCCCF), KE Holdings (BEKE -5.0%), Nam Tai

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Some China Evergrande bondholders don't expect interest payment today - Reuters