Home » Evergrande avoids default for the second time: coupon paid for 47.5 million dollars

Evergrande avoids default for the second time: coupon paid for 47.5 million dollars

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Evergrande, the Chinese real estate giant, avoided default for the second time in October, honoring the coupon on an offshore bond that expired in September for $ 47.5 million close to the end of the grace period set for today.

Bloomberg reports, noting that the company grappling with $ 305 billion in debt made the payment yesterday according to sources close to the dossier, according to which international bondholders said they had been paid.

The news will calm fears about the future of the group for now, which this week announced the resumption of work on more than 10 projects in six cities.

The news had repercussions on the Chinese stock exchanges, which closed the session in positive territory, around intraday highs, after learning that Evergrande had paid the new 47.5 million coupon, on the eve of the expiry of the 30-day grace period before insolvency: the Shanghai Composite index rose by 0.82%, to 3,547.34 points, while that of Shenzhen gained 1.60%, to 2,400.03 points.

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