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Evergrande Grace Period Could Bring Debt Deal or Coupon Payment
China Evergrande Group’s unusual silence about a dollar-bond interest payment that was due Thursday has put a focus on what might happen during a 30-day grace period. The world’s most indebted developer has given no signs of having met the $83.5 million coupon payment, which has the grace period before any default could be declared. Some Chinese companies have used such grace periods in the past to make interest payments: Shandong Ruyi Technology Group Co. last year, for example, and Qinghai Provincial Investment Group Co. in 2019. Several years ago, Glorious Property Holdings Ltd. made multiple interest payments ... (full story)
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