Several bondholders of China Evergrande receive overdue bond coupon payments – media

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HONG KONG, Nov 11 (Businesshala) – Several bondholders in China Evergrande Group have received coupon payments from a heavily indebted property developer, Chinese media outlet Calianche reported on Thursday, downplaying concerns about a potentially volatile default.

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The report cited several bondholders as saying they received interest payments in three bond tranches, which totaled more than $148 million in interest payments due last month, but whose grace period expired on Wednesday.

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Evergrande, the world’s most indebted developer, has been stumbling from deadline to deadline in recent weeks as it grapples with more than $300 billion in liabilities, $19 billion of which are international market bonds.

Failure to pay could result in a formal default by the company and trigger cross-default provisions for other Evergrande dollar bonds, threatening a debt crisis in the world’s second-largest economy.

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Evergrande could not immediately be contacted for comment. (Reporting by Claire Jim; Editing by Lincoln Feast.)

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