Tuesday, September 27, 2022
Home > BUSINESS > China’s Evergrande to Make Scheduled Payments

China’s Evergrande to Make Scheduled Payments

The main of Evergrande Group of China has said that, it is going to be making a coupon payment on the company’s domestic bonds on the given schedule, and offering some relief to the markets of jittery, which had been on the edge of collapse due to the fears of a default from the second best developer of China can possibly ripple through the financial system across the globe.

On Wednesday, 22nd September 2021, the Hengda Real Estate Group said, it is going to be making the coupon payment on the company’s Shenzhen-traded 5.8 percent bond of September 2025 on the scheduled time.

This announcement has come as Evergrande, had been inching closer to the main deadline for an interest payment on a dollar bond, along with the financial markets, that are tense even as the investors and the analysts that have played down the threat of the company’s troubles becoming the Lehman moment of the country.

The coupon payment of the Hengda Real Estate has been totaling 232 million Chinese yuan, and according to the source, they are still trying to understand, what the payment means for the other bonds and the source can possibly imagine that, they have been wanting to stabilize the market and will also be making the other coupon payments, which are close to scrutiny.

Evergrande is now all set for making the payment of onshore bond in the allotted time, but the developer has not indicated that, whether it is going to be able to pay 83.5 million dollars in the interest because of Evergrande’s March 2022 bond, and it is also having another payment due of 47.5 million dollars on 29th September 2021 for the March 2024 notes.