Evergrande misses payment deadline of some bondholders

Evergrande misses payment deadline of some bondholders

A deadline for paying $83.5 million in bond interest ended on Thursday without remark from Evergrande

Credit: Reuters File Photo

Some of China Evergrande Group's offshore bondholders have not received interest payment by a Thursday deadline US time, two people familiar with the matter said, as worries about the fate of the property developer mount.

Also read: China Evergrande bondholders in limbo over debt resolution

A deadline for paying $83.5 million in bond interest ended on Thursday without remark from Evergrande, whose mountain of debt has spooked world markets. The firm now enters a 30-day grace period and it will default if that passes without payment.

The sources could not be named as they were not authorised to speak to the media.

A spokesperson for Evergrande did not immediately respond to a request for comment. Reuters was unable to determine whether Evergrande has told bondholders what it plans to do regarding the coupon payment due on Thursday.

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