Evergrande has made a key bond payment that keeps it out of default, Chinese state media reports

State-run financial newspaper Securities Times reported Friday that the embattled property conglomerate had made an $83.5 million interest payment on a dollar-denominated bond that was due last month. A 30-day grace period for that payment is set to expire on Saturday, but Reuters reported, citing an unidentified source, that Evergrande has wired the funds and bondholders should receive it before that deadline. Evergrande did not immediately respond to a request for comment.

Last month, the developer appeared to have missed the deadline for a $47.5 million interest payment on another offshore bond. A 30-day grace period for that payment is set to expire next week, according to Halley. For now, the real estate giant has bought itself some time, ending a tense week on a slightly positive note. Evergrande's stock rebound came after a plunge Thursday.The developer said this week that it had called off a $2.

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