There has still been no word from Evergrande on its USD83m coupon payment due
China Evergrande resolved one coupon payment on a domestic bond this week.
But it also had an $83.5 million offshore interest payment that was due on Thursday - there has been no info from the firm on its plans for this. Evergrande have 30 days to pay it before being in default so its expected they will use that 'grace period'.
There is a $47.5m payment due next week, also with a 30 day grace period.
Expectations are there will be some sort of restructuring arranged. Who said you can't get a haircut during COVID-19, right?