ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
China debt crunch

Evergrande on countdown to default after more missed payments

Holders of three bond issues had been due to receive $148 million

HONG KONG -- China Evergrande Group has missed its third set of bond interest payments in less than a month, signaling a default later this month is almost a certainty unless it gets a cash windfall from new investors or asset sales.

Two bondholders said on Tuesday afternoon that they had not received any payment or communications from Evergrande, which was due to make $148.1 million in coupon payments on three offshore bonds by midnight Monday New York time.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more