Hong Kong (CNN Business) – It’s crunch time for China’s heavily-indebted Evergrande Group.
The sprawling Chinese real estate conglomerate faces a critical test on Thursday: can it meet its obligations to bondholders, or will it slip closer to default?
Evergrande is due to pay $83.5 million worth of interest on a dollar-denominated bond, according to data from Refinitiv. It’s not clear yet whether the company will make that payment, and it had not commented by the close of trading in Hong Kong.
Investors have already been rattled by the risk that one of China’s biggest developers could collapse, sending shockwaves through the world’s second biggest economy. —read more—