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SINGAPORE (MNI)

China Evergrande Group's main unit promises to make a bond interest payment due Thursday, easing some market concerns about a possible default by the country's second-largest and most indebted developer.

The group's onshore property unit, Hengda Real Estate Group Co Ltd, said in a Shenzhen exchange filing that it has negotiated a plan with bondholders of its 5.8% September 2025 bond on time on Sept. 23, without clarifying further details.

The amount due for the coupon was CNY232 million, according to data by Bloomberg.

Global financial markets, especially the Hong Kong stock market, have tumbled as concerns intensified that the liquidity issues faced by Evergrande could spark contagion in the financial sector.

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