HONG KONG : Several bondholders of China Evergrande Group have received coupon payments from the indebted property developer, a source with knowledge of the matter said on Thursday, easing concerns about a potentially destabilising default.
Evergrande, the world's most indebted developer, has been stumbling from deadline to deadline in recent weeks as it grapples with more than US$300 billion in liabilities, US$19 billion of which are international market bonds. The company, which also has coupon payments totalling more than US$255 million due on Dec. 28, has come under pressure from a liquidity crisis that has weighed on the sector and threatens hundreds of projects.
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