China Evergrande sends funds to trustee for bond coupon due Sept 23 -source By Reuters

© Reuters. FILE PHOTO: The China Evergrande Centre constructing signal is seen in Hong Kong, China, September 23, 2021. REUTERS/Tyrone Siu/File Picture

HONG KONG (Reuters) -China Evergrande Group wired funds to a trustee account on Thursday for a bond curiosity fee due Sept. 23, a supply advised Reuters on Friday, days earlier than a deadline that might have plunged the embattled developer into formal default.

The supply additionally corroborated a narrative within the state-backed Securities Instances on Friday that the corporate had remitted $83.5 million in coupon funds to a trustee account at Citibank on Thursday, permitting it to pay out to all bond holders earlier than the grace interval expires on Oct. 23.

Information of the wired fee comes a day after monetary info supplier REDD reported on Thursday that the corporate had secured extra time to pay a defaulted bond issued by Jumbo Fortune Enterprises and assured by Evergrande.

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