China Evergrande sends funds to trustee for bond coupon due Sept 23 -source

  • 10/22/2021
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HONG KONG, Oct 22 (Reuters) - China Evergrande Group (3333.HK) wired funds to a trustee account on Thursday for a bond interest payment due Sept. 23, a source told Reuters on Friday, days before a deadline that would have plunged the embattled developer into formal default. The source also corroborated a story in the state-backed Securities Times on Friday that the company had remitted $83.5 million in coupon payments to a trustee account at Citibank on Thursday, allowing it to pay out to all bond holders before the grace period expires on Oct. 23. News of the wired payment comes a day after financial information provider REDD reported on Thursday that the company had secured more time to pay a defaulted bond issued by Jumbo Fortune Enterprises and guaranteed by Evergrande. read more Reporting by Clare Jim; Editing by Shri Navaratnam and Christopher Cushing

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