China Evergrande bondholders in limbo over debt crisis - Reuters
Sep 24, 2021 1 min, 0 secs

SINGAPORE, Sept 24 (Reuters) - China Evergrande inched closer on Friday to the potential default that investors fear as an interest deadline expired without any announcement from the property giant whose mountain of debt has spooked world markets.

The company owes $305 billion, has run short of cash and investors are worried a collapse could pose systemic risks to China's financial system and reverberate around the world.

Evergrande (3333.HK) appointed financial advisers and warned of default last week, and world markets fell heavily on Monday amid fears of contagion, though they have since stabilised.

But it has said nothing about the offshore interest payment that was due on Thursday or a $47.5 million payment due next week.

Only some $20 billion of Evergrande's debts are owed offshore.

The People's Bank of China's 270 billion yuan ($42 billion) cash injection this week is the largest weekly sum since January and has helped put a floor under stocks.

Bloomberg Law also reported that regulators had asked Evergrande to avoid a near-term default, citing unnamed people familiar with the matter

However the Wall Street Journal said, citing unnamed officials, that authorities had asked local governments to prepare for Evergrande's downfall

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