Seems like the nearly $4B raised would not last much longer. Developers Face $12 Billion Trust Payments: Evergrande Update. Need to pay $103B in the next 13 months.

China’s struggling real-estate firms had another miserable month in November as a slump in home sales deepened.

The country’s builders are facing $12 billion in trust payments coming due in December, posing a major challenge for an industry whose liquidity squeeze has spooked global markets. Private-sector developers are selling the fewest bonds domestically in nearly five years, adding to the risk of additional defaults.

China high-yield dollar bonds saw declines accelerate Wednesday afternoon, falling as much as 3 cents on the dollar, according to credit traders. A gauge of real-estate stocks gained 0.1%, while China Evergrande Group declined 1.8%.

https://www.bloomberg.com/news/articles/2021-12-01/developers-face-12-billion-trust-payments-evergrande-update

h/t laflammaster