Real estate company – Evergrande makes another payment – Economy

According to insiders, the heavily indebted Chinese real estate company Evergrande made another payment of interest owed and thus again avoided an impending default. The company paid the interest owed on Friday, two people familiar with the process said. This is a coupon payment of $ 47.5 million, which was actually due on September 29. The grace period would have expired on Friday. The payment came after Evergrande narrowly avoided a costly default last week by transferring $ 83.5 million in coupon payments to an escrow account. Evergrande himself declined to comment. The real estate company is sitting on a mountain of debt worth around $ 300 billion. Given the scale of the liabilities, financial markets recently feared that a collapse of the group could trigger a conflagration in the Chinese real estate sector.

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