The China Evergrande Centre building sign is seen in Hong Kong, China. August 25, 2021. REUTERS/Tyrone Siu/File Photo
He said Evergrande's potential bankruptcy was unlikely to trigger a systemic financial storm like the collapse of Lehman Brothers, because it was a real estate business not a bank and downpayment ratios on property in China were very high. A group of Evergrande's offshore bondholders has selected investment bank Moelis & Co and law firm Kirkland & Ellis as advisers on a potential restructuring of a tranche of bonds, focusing on around $20 billion in outstanding dollar bonds in the event of non-payment, sources told Reuters.Evergrande is due to pay $83.5 million interest on Sept. 23 for its March 2022 bond . It has another $47.5 million interest payment due on Sept. 29 for the March 2024 notes .
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