Chinese property developer Evergrande has not said whether it will fulfil its interest payments to investors on its U.S.-dollar bond.
Evergrande was due to pay $83 million of interest on Thursday for a dollar-denominated bond that's set to mature in March 2022. Dollar bonds are typically held by foreign investors.
A man drives a cart past apartment buildings at China Evergrande Group's Life in Venice real estate and tourism development in Qidong, Jiangsu province, China, on Tuesday, Sept. 21, 2021.has not said whether it will fulfil its interest payments to investors on its U.S.-dollar bond – a key milestone investors have been keeping their eyes on.
One portfolio manager with a private bank told CNBC that no interest payments for the March 2022 bond had flowed into his clients' accounts as of the end of Thursday. His clients are mostly wealthy individuals, said the portfolio manager, who has been in Asian fixed income for 15 years. He did not wish to be identified as he's not authorized to speak to the media.
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