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Some Evergrande Bondholders Paid For September 23 Bond

Bondholders confirm they were paid for a dollar bond tranche that was due last month, the deadline for which ended last Saturday


The company logo is seen on the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China Sept 26, 2021. Photo: Aly Song, Reuters.

 

Some China Evergrande Group bondholders have received coupon payments for a dollar bond tranche that was due on September 23 and for which the 30-day grace period ended last Saturday, two people with knowledge of the matter said on Monday.

Evergrande, the world’s most indebted property firm with more than $300 billion in liabilities, had sent $83.5 million to a Citibank trustee account on Thursday, a person with knowledge of the matter said last Friday.

Those funds have now been transferred to at least some of the offshore bondholders, people said on Monday, but they declined to be identified as they were not authorised to speak to the media.

An Evergrande spokesperson said the company did not have a comment.

 

• Reuters with additional editing by Jim Pollard

 

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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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