Property News · October 30, 2018

Highly indebted mainland developer China Evergrande to pay double-digit interest on US dollar bonds


China Evergrande Group, the mainland’s most indebted developer, is resorting to high-interest US dollar bonds, mostly in the double digits, to refinance existing loans, with analysts expecting a similar trend at other builders amid tightening liquidity.
The company’s short-term debt totalled 299 billion yuan (US$43 billion) at the end of June, according to S&P. The short-term debt accounted for 44 per cent of total debt, from 49 per cent in 2017.
According to Bloomberg,…

Source : South China Morning Post
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