Some Evergrande offshore bondholders not paid by Oct 11 deadline Asia time, sources say

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HONG KONG, Oct 11 (Businesshala) – Some offshore bondholders in China Evergrande Group have not received interest payments by Monday’s deadline, two people familiar with the matter said, adding to the company’s ability to meet dollar debt obligations since last month. add failure.

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The cash-strapped company is expected to make $148 million in coupon payments on its April 2022, April 2023 and April 2024 dollar notes. Dollar notes were thinner on October 11 as it gives priority to onshore creditors.

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That has left offshore investors worried about the risk of major losses at the end of the 30-day grace period as China’s once best-selling property developer wrestles with more than $300 billion in liabilities.

A spokesperson for Evergrande did not immediately respond to a request for comment. The sources could not be named as they were not authorized to speak to the media.

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Businesshala was unable to determine whether Evergrande has told bondholders what it plans to do regarding coupon payments on Monday.

Reporting by Andrew Galbraith, Xiao Han and Claire Jim; Editing by Sumeet Chatterjee and Edmund Blair

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