Evergrande Unit Strikes Bond Interest Payment Deal
Posted on 09/22/2021
In a statement filed with the Shenzhen Stock Exchange in mainland China, Hengda Real Estate Group said it had reached an agreement with holders of the onshore bond over the repayment. Hengda Real Estate Group is a unit of China Evergrande Group. The amount due for the domestic bond is estimated to be US$ 35.9 million. China Evergrande Group is also due to make a US$ 83.5 million interest payment on an overseas bond on September 23, 2021.
Under agreements with investors, Hengda Real Estate has a 30-day grace period before a missed payment on the offshore bond would become a default.