China's troubled Evergrande says it will make interest payments to domestic bondholders to avoid default
Embattled Chinese property titan Evergrande has said it had agreed a deal with domestic bondholders that should allow the conglomerate to avoid missing one of its interest payments and avoid default, but its deeper debt burden remains.over fears that the sprawling firm could collapse, with the potential to pulse through the world's second-biggest economy and possibly beyond.
Evergrande has admitted facing "tremendous pressure" as it tackles a debt pile of more than $300 billion, and has warned that it may not be able to meet its liabilities. In Wednesday's statement, Hengda said investors "who bought and held the bonds" before September 22, 2021 "are entitled to interest paid this time".Analysts said the repayment will go some way to soothing anxious markets in the short term.
The payment announcement "is likely only a temporary reprieve with no signals from the Chinese government over what steps, if any, it will take to assist an orderly wind down or restructuring." said Jeffrey Halley, an analyst at OANDA.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
S&P Global says default by China Evergrande could test government's capacity to backstop 'potentially substantial failures'S&P Global Ratings said Monday a default by Chinese property developer China Evergrande Group will neither lead to a tidal wave of defaults nor mere ripples...
Consulte Mais informação »
How the Chinese Evergrande crisis affects global marketsThe fear of possible defaulting of Chinese real estate giant Evergrande has caused broad sell-off in global financial markets, even causing a dip in crypto currencies.
Consulte Mais informação »
Evergrande to make domestic bond coupon payment, soothing fearsChina Evergrande Group's main unit said on Wednesday it would make a coupon payment on its domestic bonds on Sept. 23, offering some relief to jittery markets that had been on edge over fears that a default of China's No. 2 developer could ripple through the global financial system.
Consulte Mais informação »
Evergrande crisis will hurt China’s economic growth, says former central bank advisorA default by Evergrande will have minimal effect on the Chinese financial system, said Li Daokui, a former advisor at the People's Bank of China.
Consulte Mais informação »
Evergrande fears send stock market tumbling: Here’s what investors need to know about the China property giantEvergrande, a Chinese property giant, is on the brink of default. Here's what investors need to know.
Consulte Mais informação »
Dollar holds gains, yuan under pressure as Evergrande risks growThe offshore yuan wallowed near an almost one-month low on Tuesday while the safe-haven dollar and yen stood tall as investors sought shelter from a potential China Evergrande default.
Consulte Mais informação »