Evergrande After Big Post-Default Faces Year’s Last Payment Deadline
China Evergrande Group will face an initial interest payment deadline for two US dollar bonds on Tuesday.
The debt-ridden firm has $50.4 million worth coupon due on a 7.5% 2023 bond and another $204.8 million tied to a 8.75% 2025 note, according to Bloomberg.
Evergrande has a 30-day grace period to meet payments before being declared as defaulter.
The debt obligation comes after top notch rating agencies rated the company defaulter following a series of payment failure on dollar notes.
Evergrande last week said a newly formed risk-management committee is working on reduce the risk of default.
