A deadline for paying US$83.5 million in bond interest passed without remark from Evergrande, and bondholders had not been paid nor heard from the company, two people familiar with the situation told Reuters. Evergrande appointed financial advisers and warned of default last week, and world markets fell heavily on Monday amid fears of contagion, though they have since stabilized. Evergrande has promised to prioritize such investors and resolved one coupon payment on a domestic bond this week. However, it has said nothing about the offshore interest payment that was due on Thursday or a US$47.5 million payment due next week. Bloomberg Law also reported that regulators had asked Evergrande to avoid a near-term default, citing unnamed people familiar with the matter.

Source: Taipei Times September 24, 2021 06:11 UTC