China Evergrande bondholders brace for Monday’s coupon deadline

Published by
Reuters

By Andrew Galbraith SHANGHAI (Reuters) – Offshore bondholders of beleaguered developer China Evergrande Group were on Monday bracing for news on more than $148 million in looming bond coupon payments after the company missed two coupon deadlines last month. Expectations that the company will make the semi-annual payments on its April 2022, April 2023 and April 2024 notes due Oct. 11 are slim as it prioritises onshore creditors and remains silent on its dollar debt obligations. That has left offshore investors worried about the risk of large losses at the end of 30-day grace periods as the deve…

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