Housing crisis: Struggling Evergrande makes late bond payment
DW, 22 Oct 2021
The troubled Chinese property company Evergrande has avoided defaulting on an overdue payment -- by just a whisker.
Evergrande wired 83.5 million dollars on Friday to a Citigroup account for a missed bond payment that had been due September the 23rd, according to the Securities Times.
Evergrande's struggle to reduce its more than 300 billion dollars of debt has prompted fears a default might trigger a financial crisis. The news lifted Evergrande shares in Hong Kong.
00:00 Evergrande bond payment introduction
00:35 How did this surprise payment go down on financial markets?
01:35 Evergrande's will to survive
02:53 Is the fate of Chinese real estate sector at stake as a whole?
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