Evergrande default 'inevitable' as China's property woes intensify

clock • 2 min read

China's property market dilemma has intensified as Evergrande - which has over $300bn in liabilities - once again found itself on the brink of collapse, while S&P Global has warned that its default is "inevitable". The Chinese real estate giant failed to repay some bondholders before the deadline of another crucial 30-day grace period on Monday (6 December). Evergrande said last Friday that it had received a demand regarding guarantees on $260m of debt. The property firm stated: "There is no guarantee that the group will have sufficient funds to continue to perform its financial ob...

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