Investors await Evergrande’s overdue $148 million payment amid contagion fears By Reuters

© Reuters. FILE PHOTO: A person rides an electrical bicycle previous the development website of Guangzhou Evergrande Soccer Stadium, a brand new stadium for Guangzhou FC developed by China Evergrande Group, in Guangzhou, Guangdong province, China September 26, 2021. REUTERS/Aly Tune

(Reuters) – The uncertainty forward of Wednesday’s deadline for cash-strapped China Evergrande Group to make an offshore bond coupon fee is about so as to add to considerations a couple of deepening liquidity disaster within the Chinese language property sector.

Evergrande, the world’s most indebted developer, has been stumbling from deadline to deadline in latest weeks because it grapples with greater than $300 billion in liabilities, $19 billion of that are worldwide market bonds.

One other overdue $148 million bond fee have to be made on Wednesday and it has coupon funds totalling greater than $255 million on its June 2023 and 2025 bonds on Dec. 28.

Beijing has been prodding government-owned corporations and state-backed property builders to buy a few of Evergrande’s belongings to attempt to management the autumn.

Worries over the potential fallout from Evergrande roiled China’s property sector on Tuesday, slamming the bonds of actual property firms amid worries that the disaster might unfold to different markets.

The slides in bond costs got here simply hours after the U.S. Federal Reserve warned that China’s troubled property sector might pose international dangers.

China’s property woes rattled international markets in September and October. There was a short lull in mid-October after Beijing tried to reassure markets the disaster wouldn’t be allowed to spiral uncontrolled however considerations have resurfaced.

Disclaimer: Fusion Media wish to remind you that the info contained on this web site just isn’t essentially real-time nor correct. All CFDs (shares, indexes, futures) and Foreign exchange costs should not supplied by exchanges however quite by market makers, and so costs is probably not correct and should differ from the precise market worth, that means costs are indicative and never acceptable for buying and selling functions. Subsequently Fusion Media doesn`t bear any accountability for any buying and selling losses you would possibly incur on account of utilizing this knowledge.

Fusion Media or anybody concerned with Fusion Media is not going to settle for any legal responsibility for loss or injury on account of reliance on the data together with knowledge, quotes, charts and purchase/promote alerts contained inside this web site. Please be absolutely knowledgeable concerning the dangers and prices related to buying and selling the monetary markets, it is among the riskiest funding kinds attainable.

Source link


News7h: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button