SHANGHAI -- China Evergrande Group staved off default with a last-minute interest payment on a dollar bond, but the tough funding environment that brought on its crisis does not look set to improve anytime soon.
Evergrande's Hong Kong-listed shares jumped nearly 8% at one point Friday on reports that the developer had sent the $83.5 million payment to bond trustee Citibank on Thursday. The developer had missed the initial deadline last month, and the 30-day grace period was due to end Saturday.
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