Frankfurt The heavily indebted Chinese real estate company China Evergrande can apparently no longer meet all payment obligations on its bonds. Some foreign creditors would not have received the interest payments due at the end of the 30-day grace period, four people familiar with the matter told Reuters.
It is a total of $ 82.5 million. The second largest real estate developer in the People’s Republic is sitting on a mountain of debt of more than 300 billion dollars.
Evergrande convened a risk committee on Monday to restructure the group. Evergrande’s failure to pay interest could be the group’s first overseas corporate bond that has not been serviced and is likely to result in further defaults.
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