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Will We Get News On Evergrande's Offshore Coupon Payment?

CHINA

A quick reminder that market participants are on the lookout for comments surrounding today's scheduled $83.5mn coupon payment on a US$-denominated bond issued by property developer China Evergrande (note that this coupon has a 30-day grace period before a default would be realised). This comes after yesterday's news of a renegotiated coupon payment covering an onshore bond issues by the company. Since then, several reports/stories have done the rounds, focusing on what a restructuring of Evergrande may look like (with some citing sources within the Chinese policymaking sphere).

  • Note that the presence of the grace period brings about great uncertainty re: the timing of any such announcement. Yesterday's announcement re: the renegotiated coupon payment on an onshore bond came just after 02:00 London time.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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