Looming Evergrande bond coupon payments intensify contagion fears

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Reuters

HONG KONG (Reuters) – As China Evergrande Group looks set to miss its third round of bond payments in three weeks, markets are shifting their focus to other indebted property developers as a wall of debt payment obligations come due in the near-term. A total of $38.8 billion offshore bonds issued by 40 Chinese developers will be maturing from Oct to end of 2022, according to brokerage CGS-CIMB, with the next peak of $6.2 billion in payments coming up in January. The deadline for Evergrande’s $148 million of coupon payments is 0400 GMT Tuesday, but bondholders hadn’t received anything by end of…

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