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. Shares of Evergrande listed in Hong Kong jumped over 9% by mid-morning on relief the latest deadline was met. The company, which also has coupon payments totalling more than $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. The market is also watching rival Kaisa Group, which has coupon payments totalling over $59 million due on Thursday and Friday. Kaisa has the most offshore debt of any Chinese developer after Evergrande.

Source: The Star November 11, 2021 09:29 UTC