Evergrande Payment Deadlines

Cash-strapped China Evergrande Group ($EGRNF@China) left its offshore bondholders guessing whether it would pay interest on a bond coupon due Wednesday despite agreeing to settle debt with a Chinese bank in a $1.5 billion stake divestment deal. With liabilities of $305 billion, Evergrande has sparked concerns its woes could spread through China's financial system and reverberate around the world, although the Chinese central bank has vowed to protect homebuyer interest. The move underscores how Evergrande, once China's top-selling developer and now expected to be one of the largest-ever restructurings in the country, is prioritising domestic creditors over offshore bondholders. Evergrande's silence on its offshore payment obligations has left global investors wondering if they will have to swallow large losses when 30-day grace periods end for coupon payments due on Sept. 23 and Sept. 29.