Chinese real estate group Evergrande is facing its biggest payment test since signs of a liquidity crisis emerged at the developer a few months ago.
More details🧐 Investors are waiting to see if Evergrande makes coupon payments totaling $148.1 million before the end of the 30-day grace period ends tomorrow. Evergrande had missed the initial interest deadlines last month, according to Bloomberg.
Why is this important🤔 Evergrande has so far avoided the brink of default by meeting other delayed coupons at the last minute. In its biannual report on financial stability, the U.S Fed warned that China’s ongoing property woes could elevate “financial stresses in China, which could further strain global financial markets”
