China Evergrande Group met a deadline on Thursday for a dollar bond interest payment due September 23, the Beijing-based Securities Times reported on Friday.
The report said the embattled property development company remitted $83.5 million in coupon payments to a trustee account at Citibank on Thursday, allowing it to pay out to all bondholders before the grace period expires on October 23.
“They seem to be avoiding short-term default and it’s a bit of a relief that they have managed to find liquidity,” a Hong Kong-based restructuring lawyer representing some bondholders told Reuters.
Read the full story: Securities Times
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