China Evergrande unit will make onshore bond coupon payments on Sept 23 | Inquirer Business
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China Evergrande unit will make onshore bond coupon payments on Sept 23

/ 12:26 PM September 22, 2021
China Evergrande unit will make onshore bond coupon payments on Sept 23

FILE PHOTO: An unfinished residential building is pictured through a construction site gate at Evergrande Oasis, a housing complex developed by Evergrande Group, in Luoyang, China September 16, 2021. REUTERS/Carlos Garcia Rawlins

SHANGHAI China Evergrande Group’s main unit said Wednesday that it would make a bond interest payment on September 23 after private negotiations with bondholders, as global investors worry over a possible default by China’s No. 2 property developer.

In a Shenzhen exchange filing, Hengda Real Estate Group Co Ltd said the company would make a coupon payment on its Shenzhen-traded 5.8% September 2025 bond on time on Thursday.

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The company did not detail its plan for interest payments, saying only that the bond “has already been resolved through private negotiations.”

The company’s coupon payment totals 232 million yuan ($35.88 million), according to Refinitiv data.

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Evergrande is also due to make an $83.53 million coupon payment on an offshore dollar bond on Thursday. The Shenzhen exchange filing did not mention the offshore bond.

($1 = 6.4655 Chinese yuan)

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TAGS: Bonds, China, Evergrande, Investment, Real Property
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