WRAPUP 1-China Evergrande wires funds for bond coupon, averting default

By Reuters

China Evergrande Group wired funds to a trustee account on Thursday for a dollar bond interest payment due Sept. 23, a source told Reuters on Friday, days before a deadline that would have plunged the embattled developer into formal default. The source corroborated a story in the state-backed Securities Times on Friday that the company had remitted $83.5 million in coupon payments to a trustee account at Citibank on Thursday, allowing it to pay out to all bond holders before the grace period expires on Oct. 23. Evergrande did not immediately respond to Reuters request for comment.

…read more

Via:: Sports Headlines

      

Get 20% off hat purchases for ONLY $5! Join our LIDS Club @ lids.com.
%d bloggers like this: