Evergrande Is Leaving Foreign Bondholders in the Dark

Advisers to China Evergrande Group ’s international bondholders have made little progress in their efforts to engage with the embattled property developer, as the clock ticks toward a likely default.

The Chinese real-estate giant skipped interest payments on $1 billion in U.S. dollar bonds on Sept. 23, and has a 30-day grace period before its bondholders can call a default. Evergrande also didn’t pay the coupon on another set of dollar bonds last week. The 25-year-old company is China’s largest issuer of junk bonds, with more than $19 billion in dollar debt outstanding.

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Source:" WSJ "

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