Failing Chinese property developer Evergrande has avoided defaulting on its loan, but the next payment is due in six days, according to Sky News business editor Edward Boyd.

The move has not yet affected the markets, but there are concerns about the next payment.

The payment is roughly US$50 million, due next Thursday and is an interest payment.

Evergrande is the largest property developer in China and second-largest globally, but they owe US$300 billion.

There have been reports the Chinese Communist Party is encouraging Evergrande to pay the loans so as not to leave investors and creditors at a loss.

Recommended Posts

No comment yet, add your voice below!


Add a Comment

Your email address will not be published. Required fields are marked *