China Evergrande shares set to fall 7.1per cent after it says no guarantee it can meet repayments

China Evergrande shares set to fall 7.1per cent after it says no guarantee it can meet repayments

6/12/2021 4:34:00 AM

China Evergrande shares set to fall 7.1per cent after it says no guarantee it can meet repayments

HONG KONG : Shares of embattled China Evergrande Group were set to slide 7.1per cent on Monday after the world's most indebted developer said there was no guarantee it would have enough funds to meet debt repayments, fuelling concerns of a default.After Evergrande's statement late on Friday, the Guangdong

HONG KONG : Shares of embattled China Evergrande Group were set to slide 7.1per cent on Monday after the world's most indebted developer said there was no guarantee it would have enough funds to meet debt repayments, fuelling concerns of a default.

After Evergrande's statement late on Friday, the Guangdong provincial government said it would send a working group to the developer at its request to oversee risk management, strengthen internal controls and maintain normal operations.Evergrande failed to pay coupons totalling US$82.5 million due on Nov. 6 and investors are on tenterhooks to see if it can meet its obligations before a 30-day grace period ends on Dec 6.

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LinkedIn HONG KONG : Shares of embattled China Evergrande Group were set to slide 7.1per cent on Monday after the world's most indebted developer said there was no guarantee it would have enough funds to meet debt repayments, fuelling concerns of a default. After Evergrande's statement late on Friday, the Guangdong provincial government said it would send a working group to the developer at its request to oversee risk management, strengthen internal controls and maintain normal operations. Evergrande failed to pay coupons totalling US$82.5 million due on Nov. 6 and investors are on tenterhooks to see if it can meet its obligations before a 30-day grace period ends on Dec 6. (Reporting by Clare Jim; Editing by Anne Marie Roantree and) Source: Reuters