China property bonds dive as Evergrande debt holders await coupon deadline

Fidelity's latest figures show it manages around $790 billion worth of assets globally. It still holds some Evergrande bonds although it sold a bond issued by Chinese property developer Fantasia, which defaulted this week.

SHANGHAI: China property bonds slumped on Monday after a developer asked to delay a paper's maturity, underlining default fears stalking markets as offshore bondholders of China Evergrande Group awaited news of $148 million in looming debt coupons.

Expectations that Evergrande will make the semi-annual payments on its April 2022, April 2023 and April 2024 dollar notes due Oct. 11 are slim as it prioritises onshore creditors and remains silent on its dollar debt obligations.