Evergrande 'paying up' ahead of default deadline - reports

Mark Battersby
clock • 1 min read

China state-backed media is reporting that Evergrande has wired its $83.52m overdue offshore bond coupon payment today, just ahead of the end of the 30-day grace period tomorrow. According to Jeffrey Halley, Senior Market Analyst, Asia Pacific, OANDA "given that it is state media, who don't say anything without government approval, I am inclined to believe it. That should give a temporary reprieve to the China financial system contagion fears although I note that Evergrande has another grace period payment due on the 29th of October of $45.17 million." He added: "Still, if they've man...

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