Evergrande’s global bondholders didn’t receive interest payment

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Global investors who own certain China Evergrande U.S. dollar bonds hadn’t received an interest payment from the property giant by Thursday’s deadline, said people familiar with the matter, opening a new chapter in the cash-strapped firm’s financial struggles. Evergrande was on the hook to make $83.5 million in coupon payments by Sept. 23 on dollar bonds with a face value of $2.03 billion. The company could make the payments belatedly and it has a 30-day grace period before bondholders can call a default. A missed payment would set the stage for what could be the largest-ever dollar-bond default by a company in Asia. Evergrande 3333, -11.61% didn’t respond to a request for comment. Thursday’s payment deadline became a focal point for global investors after Evergrande’s liquidity worsened dramatically over the summer, leading to construction halts at some of its unfinished apartment complexes and sharp
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