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Evergrande stays silent on its $83 million dollar bond interest payment, leaving investors in limbo
Chinese property developer Evergrande has not said whether it will fulfil its interest payments to investors on its U.S.-dollar bond – a key milestone investors have been keeping their eyes on. The interest payment due Thursday amounted to $83 million. It was for a $2 billion dollar-denominated bond that’s due to mature in March 2022. Dollar bonds are typically held by foreign investors. As of Friday morning during Asia hours, the company had not made any announcement, or any filing to the Hong Kong exchange, leaving investors in limbo. Yields on this bond have skyrocketed to more than 560%, from just over 10% ... (full story)