Evergrande Default
Chinese property giant Evergrande warns again that it could default on its enormous debts By Michelle Toh and CNNs Beijing. Both bonds would default.
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It said that if it cant repay its debt it may lead to a situation of cross default.
Evergrande default. Evergrande warned this week its escalating troubles could lead to broader default risks. Fitch Ratings cut the ratings of China Evergrande Group 3333HK and two of its subsidiaries on Wednesday the latest in a series of downgrades. Evergrande is due to pay 835m interest on September 23 for its March 2022 bond.
It has another 475m interest payment due on September 29 for the March 2024 notes.
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