China Evergrande Group wired funds to a trustee account on Thursday for a bond interest payment due Sept. 23, a source told Reuters, days before a deadline that would have plunged the embattled developer into formal default
The China Evergrande Centre building sign is seen in Hong Kong, China, September 23, 2021. REUTERS/Tyrone Siu/File Photowired funds to a trustee account on Thursday for a bond interest payment due Sept. 23, a source told Reuters on Friday, days before a deadline that would have plunged the embattled developer into formal default.
The source also corroborated a story in the state-backed Securities Times on Friday that the company had remitted $83.5 million in coupon payments to a trustee account at Citibank on Thursday, allowing it to pay out to all bond holders before the grace period expires on Oct. 23. News of the wired payment comes a day after financial information provider REDD reported on Thursday that the company had secured more time to pay a defaulted bond issued by Jumbo Fortune Enterprises and guaranteed by Evergrande.More from ReutersSubscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
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