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Bond Market News
Evergrande Said to Have Paid $148mn in Coupons Before 30-Day Deadline
November 11, 2021
China Evergrande is said to have paid $148mn in coupons on its dollar bonds that it skipped last month. The bonds in question were Evergrande’s 9.5% 2022s and 10% 2023s totaling to $148mn in coupons just before the 30-day grace period ended. Bloomberg cited a spokesperson for Clearstream citing that bondholders of two of the bonds said they received payments. Details of exactly what time the grace period expired on Wednesday was unclear, but two sources told Reuters that some bondholders had not been paid by the end of the Asian business day. Evergrande has not commented on the matter yet.
Evergrande’s 9.5% 2022s and 10% 2023s trade at 28.8 and 24.4 cents on the dollar respectively.
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