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China Evergrande Gets Reprieve on Interest Payments – SCMP

The developer got an extension on two onshore bonds totalling 20 billion yuan, or $3 billion, due on May 6, to November 6


China Evergrande
Bond defaults by China Evergrande Group, the world's most indebted developer with some $300 billion in liabilities, as well as other developers, have seen authorities soften their initial stance that market forces would hold sway. File photo: AFP.

 

Domestic creditors of China Evergrande group have deferred interest payments on yuan-denominated bonds for six months, SCMP reported.

The developer got an extension on two onshore bonds totalling 20 billion yuan, or $3 billion, due on May 6, to November 6, the report said, citing a Shanghai Stock Exchange filing.

 

Read the full report: South China Morning Post.

 

 

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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.

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