Embattled Chinese property titan Evergrande has said it had agreed a deal with domestic bondholders that should allow the conglomerate to avoid missing one of its interest payments and avoid default, but its deeper debt burden remains.over fears that the sprawling firm could collapse, with the potential to pulse through the world's second-biggest economy and possibly beyond.
Evergrande has admitted facing "tremendous pressure" as it tackles a debt pile of more than $300 billion, and has warned that it may not be able to meet its liabilities. In Wednesday's statement, Hengda said investors "who bought and held the bonds" before September 22, 2021 "are entitled to interest paid this time".Analysts said the repayment will go some way to soothing anxious markets in the short term.
The payment announcement "is likely only a temporary reprieve with no signals from the Chinese government over what steps, if any, it will take to assist an orderly wind down or restructuring." said Jeffrey Halley, an analyst at OANDA.
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Evergrande fears send stock market tumbling: Here’s what investors need to know about the China property giantEvergrande, a Chinese property giant, is on the brink of default. Here's what investors need to know. Lehman Brothers, Trillion of dollars failure, no noise, Evergrande 300 billion so much noise.
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Dollar holds gains, yuan under pressure as Evergrande risks growThe offshore yuan wallowed near an almost one-month low on Tuesday while the safe-haven dollar and yen stood tall as investors sought shelter from a potential China Evergrande default. I wonder what will happen to the price of cryptos that are based on the dollar. For example $Dai coin.
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