BBC: Evergrande: Investors in the dark over $83m bond payment
Investors were left in the dark after troubled property giant Evergrande missed a deadline for a $83.5m (£61m) interest payment.
The Chinese firm is yet to make an announcement regarding the payment, which was due on Thursday.
Earlier in the week, the company said it had struck a deal over another interest payment worth $35.9m.
Global markets have been rocked by concerns over the firm's ability to support its more than $300bn of debts.
Evergrande's fell by almost 12% in Hong Kong on Friday after jumping more than 17% the previous day.
Read more ....
WNU Editor: This missed payment is very worrisome. A 30 day grace period is now in place. We will know in the enxt 30 days if Evergrande can meet its interest payments.If it cannot. Wow! This will become bad very quickly.
Update: More evidence that China is experiencing a liquidity crisis .... China Adds $71 Billion in Cash in Past Week to Calm Nerves (Bloomberg).
More News On China's Growing Economic Crisis
China Evergrande stares into the void as interest deadline passes -- Reuters
China's Evergrande bondholders in limbo as debt deadline passes -- France 24
China Evergrande keeps dollar bondholders guessing on key interest payment -- FOX News/WSJ
What is Evergrande? The Chinese property giant behind global sell-off fears -- NBC
8 comments:
I do not see why the CCP should pay Evergrande's interest payment. If the Government cannot afford to pay down debt as well or negotiating that the banks take 10% to 90% haircut, then in a few months or a year Evergrande will be right back in the same position, which is default.
The CCP could pay down debt as well to keep Evergrande in the green and able to pay down future installments, but it might hurt their pocket book like the military.
If CCP the bails them out and it hurts, I think the CCP should have a say in Evergrande's operations. After all putting capital into Evergrande costs them opportunities for other development. that is unless the CCP set the table to cause the liquidity crisis. Governments do that often.
Anyone stupid enough to invest in Chinese bonds is screwed. Worthless. Prepare for the worst. We gave them the means with our trade deficits and they ran with it.
It will soon become very evident how deep US hedge funds and other firms are into this mess.
Joe Biden Cracks Awkward Joke,
PICKS HIS NOSE,
Says He Was Vice President in 2020 During Oval Office Meeting with Indian Prime Minister
Wnu, keep on worrying.
‘You’ve disgraced this country’: Judge rips Capitol riot defendant - POLITICO
3:02 / 3:03 is the same girlie boy.
Earlier on another blogpost, misfit alleged that the Arizona audit found more votes for President Notecard. BTW did you notice when Joe met the Indian POM he had a stack of notecards and I mean a freaking stack! He read them, when he wasn't rubbing ....err caressing his left thigh. I would trust Joe around my women. Why not? He is in love with his thigh!
But back to the audit The audit came out at 1:00 PM. Yet earlier this morning girlie boy was making his allegations. It must be a slow day looking up pics, so girlie boy had time to engaged in propaganda. Ever notice how some of those pics do not have beaver pelts?
Every day is a good day and never a slow day.
Girlie Boy? ah, yes. Why do you grab what I say and pretend it is your saying?
The fashion today is for hairless snatches in photos. For those who like beaver, there is that too. Look carefully and ...right...you do recognize your DNA among the NSFW pics!
for those who do not troll and do not catch the references, this is where Mr Noselfesteem refers to:
https://extragoodshit.phlap.net/
"Why do you grab what I say and pretend it is your saying?"
I PUT WHAT YOU SAY IN QUOTES. That way that people know I am quoting you and they are not my words. That is how quotes work.
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