Lenders told not to expect Evergrande to pay interest due next week on loans

lenders told not to expect evergrande to pay interest due next week on loans

Sumary of Lenders told not to expect Evergrande to pay interest due next week on loans:

  • The Ministry of Housing and Urban-Rural Development told banks in a meeting this week that Evergrande will not be able to meet its debt obligations due on Sept 20, said the people.
  • It is unclear whether Evergrande, founded by billionaire Hui Ka Yan, intends to pay about US$84 million of dollar-bond interest due on Sept 23. The company’s complex web of obligations to banks, bondholders, suppliers and home owners has become one of the biggest sources of financial risk in the world’s second-largest economy.

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