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Housing crisis: Struggling Evergrande makes late bond payment | DW News
Posted
October 22, 2021
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October 22, 2021
131,945
1,330
284
1.22%
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4:37Now PlayingThe troubled Chinese property company Evergrande has avoided defaulting on an overdue payment -- by just a whisker.
Evergrande wired 83.5 million dollars on Friday to a Citigroup account for a missed bond payment that had been due September the 23rd, according to the Securities Times.
Evergrande's struggle to reduce its more than 300 billion dollars of debt has prompted fears a default might trigger a financial crisis. The news lifted Evergrande shares in Hong Kong.
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