Chinese real estate giant Evergrande avoids default: Construction site near Evergrande headquarters in Shenzhen, China on 23 September 2021. © Aly Song, Reuters According to the Bloomberg agency, real estate giant Evergrande has managed to avoid default, at least temporarily warding off fears of catastrophic fallout from ‘bankruptcy for the Chinese economy. The group’s action soared in the morning on the Hong Kong Stock Exchange.

The ultra-indebted Chinese real estate developer Evergrande once again narrowly avoids a financial earthquake. The giant, whose potential bankruptcy could shake the national economy, managed to pay bond interest on time, thus avoiding default, Bloomberg reported on Thursday.

The markets reacted well to the news, the group’s share soaring by more than 8% in the morning at the Hong Kong Stock Exchange.

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Evergrande drags a slate estimated at 260 Billions of Euro’s. Its financial situation is scrutinized with concern because its potential collapse could hamper China’s growth. All eyes were on the promoter on Wednesday as he faced the deadline of a one-month grace period to make a bond payment in dollars – to the tune of 128 millions of euros. But the guests of the international clearing Clearstream have received the expected money, said the Bloomberg agency Thursday, according to which two investors holding two of the bonds confirmed to have received the payments. Clearstream did not immediately respond to a request for confirmation from AFP on Thursday.

Sale of assets Evergrande avoided several defaults in October, by making payments in extremis interests to holders of bonds abroad.

The group has been trying for several months to get rid of assets in order to bail out. He had thus succeeded a few days ago in lifting 64 millions of euros by selling a stake in an Internet services company, HengTen Networks Group.

Determined to limit speculation in the sector, regulators have been attacking the excessive indebtedness of the country’s real estate companies in order to limit the risks of a collapse ulle.

But the authorities now seem to be relieving some of the pressure . The official business daily Securities Times reported on Wednesday that access to bank loans was facilitated to allow real estate companies to raise funds more easily.

Chinese real estate giant Evergrande avoids default

1. Chinese real estate giant Evergrande avoids default

Evergrande News: Will Chinese real-estate giant avoid default?

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2. Chinese real estate giant Evergrande avoids default

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3. Chinese real estate giant Evergrande avoids default

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The Federal Reserve warned this week that fragility in China’s commercial real-estate sector could spread to the U.S. if it deteriorates dramatically. Evergrande has so far managed to avoid defaulting on any publicly traded dollar bonds, after also pulling back from the brink in October by paying other coupons before the end of grace periods.

Chinese real estate giant Evergrande avoids default – Archyde
The ultra-indebted Chinese real estate developer Evergrande once again narrowly avoids a financial earthquake. The giant, whose potential bankruptcy could shake the national economy, managed to pay bond interest on time, thus avoiding default, Bloomberg reported on Thursday. Read more visit site

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China property company Evergrande group paid $83.5 million to international bondholders Friday just hours ahead of its deadline, temporarily preventing a default. Chen Zhao, the chief global strategist for Montreal investment firm Alpine Macro, joined CBSN to discuss the latest on Evergrande’s financial troubles.

Chinese real estate giant Evergrande avoids default …
The ultra-indebted Chinese real estate developer Evergrande once again narrowly avoids a financial earthquake. The giant, whose potential bankruptcy could shake the national economy, managed to pay bond interest on time, thus avoiding default, Bloomberg reported on Thursday. The markets reacted well to the news, the group’s share soaring more …

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Evergrande, China’s indebted real estate giant, has once again avoided a formal default after a bondholder said the company made an interest payment of $ 148 million on Wednesday, meeting the payment deadline. Key Comments (via the NY Times) “Evergrande owed investors interest payments totaling nearly $ 150 million on three bonds, with grace periods for those payments expiring on Wednesday.

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