Some offshore bondholders of China Evergrande Group (3333.HK) did not receive coupon payments by the end of a 30-day grace period, four people with knowledge of the matter said, pushing the cash-strapped property developer closer to formal default. Failure to make $82.5 million in interest payments that were due last month would trigger cross-default on the firm"s roughly $19 billion of international bonds and put the developer at risk of becoming China"s biggest-ever defaulter. read more While the developer does not have any more onshore or offshore bonds maturing this year, it has $255.2 million in coupon payments due on Dec. 28. Following is a list of upcoming U.S. and Hong Kong dollar bond coupon payment due dates for Evergrande and its units through May 2022: Bond Outstanding amount Next coupon date Next coupon amount RIC China Evergrande 7.5% June 2023 $1.34 bln Dec. 28, 2021 $50.43 mln China Evergrande 8.75% June 2025 $4.68 bln Dec. 28, 2021 $204.77 mln China Evergrande 11.5% Jan. 2023 $1 bln Jan. 22, 2022 $57.5 mln China Evergrande 12% Jan. 2024 $1 bln Jan. 22, 2022 $60 mln Scenery Journey 11.5% Oct. 2022 $2 bln Jan. 24, 2022 $115 mln Scenery Journey 12% Oct. 2023 $2 bln Jan. 24, 2022 $120 mln China Evergrande 4.25% Feb. 2023 HK$81 mln Feb. 14, 2022 HK$1.72 mln China Evergrande 8.25% March 2022 $2.025 bln (due at maturity) Mar. 23, 2022 $83.53 mln (at maturity) China Evergrande 9.5% March 2024 $1 bln Mar. 29, 2022 $47.5 mln China Evergrande 9.5% April 2022 $1.45 bln (due at maturity) Apr. 11, 2022 $68.88 mln (at maturity) China Evergrande 10% April 2023 $850 mln Apr. 11, 2022 $42.5 mln China Evergrande 10.5% April 2024 $700 mln Apr. 11, 2022 $36.75 mln Scenery Journey 13% Nov. 2022 $645 mln May 6, 2022 $41.93 mln Scenery Journey 13.75% Nov. 2023 $590 mln May 6, 2022 $40.56 mln Reporting by Andrew Galbraith; Editing by Sumeet Chatterjee and Christopher Cushing Our Standards: The Thomson Reuters Trust Principles.
مشاركة :