China Evergrande begins coupon payment on bonds due Sat.: report

Politics Economy

Debt-laden major property developer China Evergrande Group has started to make a coupon payment on dollar-denominated bonds due Saturday, Chinese media reported, amid lingering fears that the firm would soon go into default. Friday's report came as financial markets have been shaken by the prospect of Evergrande, whose liabilities have swelled to around 2 trillion yuan ($310 billion), possibly filing for bankruptcy which could spark an event comparable to the 2008 global financial crisis. Chinese media reported many creditors have already received a coupon payment on bonds totaling $83.5 milli...

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