BREAKING | Evergrande on countdown to default after more missed paymentst.co/0JoKywanSQ#Evergrande #中国恒大集団
— Nikkei Asia (@NikkeiAsia) October 12, 2021
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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