Evergrande avoids second default with interest payments on an external bond – El Sol de México

Indebted Chinese real estate giant Evergrande Avoid defaulting for the second time this month after paying interest on Bono “Outside” Less than two weeks after the grace period expires, as defined Bloomberg on Friday.

The company had defaulted on several offshore bonds, and although it had a 30-day grace period on some of them, there was a general feeling that it wouldn’t be able to satisfy it.

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Bloomberg News, citing sources close to the situation, reported that he had paid a crucial sum on Thursday.

This adds to a series of encouraging news for the company, which has accumulated debts of more than $300 billion.

Monday, Evergrande announced that they have resumed work on more than ten development projects in six different locations The state newspaper, Securities Times, said last week that the developer had paid $83.7 million owed since September 23.

Local media also pointed out that the Chinese authorities urged the founder Evergrande, Xu JianTo relieve the company’s debts with his personal wealth.

Despite everything, analysts warn that the company’s fundamentals remain weak, with several payments pending before the end of the year.

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Evergrande has sunk in a Serious crisis since communist rule And they began a campaign to reduce the heavy indebtedness of the real estate sector, which represents a quarter of its economy.

China appears to be rolling back some of these regulations, and the Securities Times reported on Friday that local banks have begun easing credit controls for some buyers and developers on the orders of the central bank.

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