Evergrande on countdown to default after more missed payments.

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All told, Evergrande has missed $277 million in coupon payments on its offshore bonds so far. It has a further $573 million due before the end of the year.

The company has a 30-day grace period to make good on missed coupon payments, according to the bonds’ offering prospectuses, meaning a formal default now looms next week.

h/t wtt90

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